Finding Text
Criteria or Specific Requirement:
The Code of Federal Regulations, 34 CFR 668.22 defines the last date of attendance for schools that are required to take attendance and those that are not required and requires an institution to return the amount of title IV funds for which it is responsible as soon as possible but no later than 45 days after the date of the institution's determination that the student withdrew.
Condition:
For seven of forty R2T4s tested, the University failed to return payments within 45 days of school determination the student withdrawal date. For one of forty R2T4s tested, the improper last date of attendance was used.
Questioned Costs:
Not determined.
Context:
The University failed to return payments within 45 days of school determination.
Cause:
The University's internal controls did not identify the errors for compliance with the criteria mentioned above.
Effect:
The student’s return of funds calculation was not done correctly and the return of funds back to the federal government was for the incorrect amount. The University failed to return payments within 45 days of school determination the student withdrawal date.
Repeat Finding:
No
Recommendation:
We recommend that additional training is provided to staff completing R2T4s to ensure a thorough understanding of governing regulations for each individual program. We also recommend an additional level of review is added to ensure completed R2T4s are properly completed.