Assistance Awarded Federal Agency Name: Department of Education Program Name: Student Financial Aid Cluster CFDA # 84.268 ? Federal Direct Student Loans CFDA # 84.063 ? Federal Pell Grant Program Finding Summary: During testing over the eligibility requirements, the following deficiencies were noted: ? 2 of 60 students were not awarded the correct amount of Pell. Both students were under awarded for the Summer 2022 semester. ? 6 of 60 students were not awarded the correct amount of subsidized loans. 4 students were under awarded subsidized loans based on being packaged as the wrong year in school; 1 student was not given full amount of loan agreed to on packaging; and 1 student was over awarded subsidized loans as the student did not have financial need. ? 4 of 60 students were not awarded the correct amount of unsubsidized loans. 3 of the students were under awarded unsubsidized loans based on being packaged as the wrong year in school. 1 student was awarded an unsubsidized loan which was not credited to student account but was reported in the COD system. ? 1 of 60 students received subsidized/unsubsidized loans exceeding the aggregate limit. Student was over awarded subsidized loans in the 2021 fiscal year, and this was not properly corrected before 2022 aid was reported. Responsible Individuals: James (Rocky) Query, Interim CFO and Jessica Papa, Director of Financial Aid Corrective Action Plan: As described in management?s response to the prior finding, transition in the Financial Aid Office, combined with insufficient training for new staff and adequate support from external resources, contributed to a high error rate in calculation of the proper amount of aid for Pell, unsubsidized loans and subsidized loans. In response, management has redoubled efforts to improve the review of award calculations and intends to engage external resources to review award calculations for FY23. Anticipated Completion Date: The Financial Aid Office has made necessary corrections in all student accounts. Further, the Office has emphasized correct calculations of awards for both the Fall and Spring 2023 semester. Training has improved during the current fiscal year. External resources will be engaged within the next several weeks to further review the award process; proper calculation of drawdown and return of Title IV funds, and proper conduct of internal control processes including adequate monthly reconciliations of student accounts and Title IV drawdowns.