Finding Text
MATERIAL WEAKNESS, Document Satisfactory Academic Progress Evaluation, Information on the federal program: U.S. Department of Education, Assistance Listing No. 84.268; Federal Direct Student Loan Program, Criteria: Students awarded financial aid must meet certain eligibility requirements including maintaining satisfactory academic progress. Condition: The Seminary did document the evaluation of student satisfactory academic progress. Context: Out of a population of 50 students who received aid under the student financial aid cluster, we sampled 10. No documentation of the annual evaluation of satisfactory academic progress was maintained either within or outside of the student management system. None of the sample of 10 were found to not have achieved satisfactory academic progress. Questioned Costs: None Cause: Manual evaluations are being performed in accordance with the Seminary's policy but are not documented within the student management software. Effect: No documentation exists that the annual evaluation was performed. Recommendation: We recommend that management adjust its procedures to document the annual evaluation either within our outside of the student management software. Views of responsible officials and planned corrective actions: Management acknowledges this finding and is working on documentation to remove this deficiency in the future. Satisfactory academic progress is being calculated, but lack of paperwork by the Seminary made this finding necessary. The Seminary financial aid department will work on documenting processes moving forward.