Information on the Federal Program: Federal Direct Student Loan Program (CFDA Number 84.268) – U.S. Department of Education
Criteria: CARES Act Section 3508(2)
The Secretary shall require each institution using a waiver relating to the withdrawal of recipients to report the number of such recipients, the amount of grant or loan assistance associated with each such recipient, and the total amount of grant or loan assistance for which each institution has not returned assistance under title IV to the Secretary.
Condition and context: Out of a population of 34 withdrawn students, we sampled 7. Out of this sample, 1 student was not included in the Summary Level Report of Title IV Funds not returned.
Cause: There was not a procedure in place to verify that all students who withdrew from the institution after attending less than 60% of the enrollment period were included in the Summary Level Report.
Effect: The number of recipients and total amount of assistance included in the Summary Level Report was understated.
Recommendation: We recommend the University develop a procedure for verifying that all withdrawn students are included in the Summary Level Report to ensure accurate reporting to the Department.
Management Response: The University concurs with the finding. The University is currently utilizing the Banner Optimization to refine that all withdrawn students are included in the Summary Level Report. This will be fully functional in FY25.
102.