Finding Text
Federal Program Information: Student Financial Assistance Cluster: Federal Supplemental Education Opportunity Grants (Assistance Listing #84.007), Federal Work-Study Program (Assistance Listing #84.033), Federal Pell Grant Program (Assistance Listing #84.063), Federal Direct Loan Program (Assistance Listing #84.268)
Criteria or Specific Requirement: N. Special Tests and Provisions –Return of Credit Balances: Federal Regulations require credit balances to returned to students with 14 days of the credit being created on the students account.
Condition: The University did not return credit balances to students within the required timeframe.
Cause: Administrative oversight.
Effect or Possible Effect: The University was not in compliance with federal regulations regarding the timing of return of credit balances.
Questioned Costs: None.
Context: Based on a sample of 25 students, 1 student selected had a credit balance that was not returned within the 14 day period.
Recommendation: We recommend that the University enhance its procedures to ensure timely return of credit balances to students.
Views of Responsible Officials: The University agrees with the finding - refer to the University’s Corrective Action Plan.