Finding Text
Need Analysis Significant Deficiency DEPARTMENT OF EDUCATION ALN #: 84.268 Federal Award Identification #: 2021-22 Financial Aid Year Condition: Students were not initially appropriately awarded subsidized aid based on need. Students were not appropriately awarded subsidized loans based on need. When there was a change in student?s information on the ISIR and a subsequent ISIR was produced, in some instances, the University did not update the student?s federal financial aid awarding to reflect the updated information. Errors in need analysis for federal financial aid let to inaccurate awarding and disbursing need based federal financial aid. Criteria: 34 CFR 685.203 Questioned Costs: $2,000 Context: 5 students out of 60 were not awarded the correct amount of subsidized and unsubsidized loans based on the year of enrollment as defined by the credit hours earned at the University. Of these 5 students, 2 students attended one semester so they were not over-awarded for the whole year. One student was awarded as a senior but was only a sophomore, resulting in $1,000 sub and $1,000 unsub to be returned. The other two students were under-awarded by $4,000. These are not yet corrected. Cause: The University imported the self-reported line from the FAFSA and did not override this field for all students based on credits earned at the time of the awarding. Effect: One student received subsidized and unsubsidized federal aid for which they were not eligible while 2 others did not receive the aid for which they were eligible. Identification as repeat finding, if applicable: Yes, 2021-008. Recommendation: We recommend the University ignore the FAFSA line and only use the credits earned for awarding. Views of Responsible Officials and Planned Corrective Action: Management agrees with the finding. See corrective action plan.