Finding Text
Federal Program Information: Student Financial Assistance Cluster (Various ALN?s) Criteria or Specific Requirement: N. Special Test and Provisions ? Disbursements To or On Behalf of Students ? Direct Loan ? If a student received financial aid while attending one or more other institutions, schools are required to request financial aid history using the National Student Loan Data System (NSLDS) Student Transfer Monitoring Process. Under this process, a school informs NSLDS about its transfer students. NSLDS will ?monitor? those students on the school?s ?inform? list and ?alert? the school of any relevant financial aid history changes. A school must wait 7 days after it ?informs? NSLDS about a transfer student before disbursing Title IV aid to that student (34 CFR 668.19). Condition: The University did not inform NSLDS of a certain transfer student. Cause: Administrative oversight. Effect or Potential Effect: The University did not follow the NSLDS Student Transfer Monitoring Process. Questioned Costs: None. Context: For 1 of 6 transfer students tested, the University did not add the student to its NSLDS Transfer Monitoring List as required. Identification as a Repeat Finding: There was no similar finding identified during the prior year. Recommendation: We recommend the University enhance its procedures over transfer monitoring to ensure that all mid-year transfer students are added to the NSLDS Transfer Monitoring List. Views of Responsible Officials: Going forward, this has been corrected using ?Tasks? in PowerFAIDS, which will identify mid-year transfer students, alerting the financial aid staff to enter the student into the ?NSLDS Mid-Year Transfer? section in PowerFAIDS and transmitting the file to NSLDS.