Be Prepared for Your Next Audit
More than half of Title IV Audit infractions come from only 7 causes.
1. Repeated Missteps
Consecutive years of noncompliance in the same area
2. Student Status Errors
Incorrect or untimely updates to the Department regarding student status changes
3. R2T4 Snafus
Incorrectly calculating R2T4 when students withdraw from all classes during a payment period
4. R2T4 Funds Made Late
Failure to return funds to the department in a timely manner
5. Verification Violations
Incomplete or untimely verification of a student's aid application
6. Student Credit balance Deficiencies
Failure to administer Title IV credit balances on behalf of students or parents
7. Auditor Opinion
An auditor cites an opinion of noncompliance