EIN: 131740451
UEI: ECESTN2SSVH1
Audited by: KPMG LLP
Cognizant agency: 84 [Department of Education]
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Data as of September 2, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on March 13, 2026. Under 2 CFR 200.521(d), a pass-through entity that provided federal funds to this organization for this audit period must issue a management decision on these findings by September 13, 2026 (10 days from today).
What is a management decision? →FAC accepted this audit on March 25, 2025 — management decision was due September 25, 2025.
FAC accepted this audit on March 25, 2024 — management decision was due September 25, 2024.
FAC accepted this audit on March 27, 2023 — management decision was due September 27, 2023.
Federal Grant Numbers: P063P181847 and P0268K19847 Statistically Valid Sample: No and it was not intended to be. Prior Year Finding: None. This is not a repeat finding. Finding Type: Other noncompliance Criteria: Views of Management The accurate reporting of campus-level OPEID is required by federal regulation for Title IV students and although the reporting provides data on Title IV programs but does not prompt repayment on loans or have any impact on a student's federal aid eligibility. Pursuant to a root-cause analysis conducted by the University, it was determined (and ultimately acknowledged) by the servicer that it had failed to follow established protocols prior to transmitting this information to NSLDS, which led to this finding. The information provided by the University was accurate and consistent with the methodology we use regularly to transmit information to this servicer. The U.S. Department of Education requires independent compliance audits for third-party servicers that help colleges and universities administer Title IV programs and, as part of our on-going due diligence, we reviewed the attestation opinion issued by the independent auditor, who noted no issues with respect to this particular compliance requirement or the servicer?s ability to comply with it. The University has discussed with the third-party servicer its process for submitting Campus-Level information to the NSLDS, and changes are being made by the servicer to ensure its own compliance with the methodology for transmitting data to the NSLDS. The University is also undertaking a detailed review of this servicer?s performance to mitigate the risk of recurrence.
Show full finding ▾Hide full finding ▴Federal Grant Numbers: P063P181847 and P0268K19847 Statistically Valid Sample: No and it was not intended to be. Prior Year Finding: None. This is not a repeat finding. Finding Type: Other noncompliance Criteria: Views of Management The accurate reporting of campus-level OPEID is required by federal regulation for Title IV students and although the reporting provides data on Title IV programs but does not prompt repayment on loans or have any impact on a student's federal aid eligibility. Pursuant to a root-cause analysis conducted by the University, it was determined (and ultimately acknowledged) by the servicer that it had failed to follow established protocols prior to transmitting this information to NSLDS, which led to this finding. The information provided by the University was accurate and consistent with the methodology we use regularly to transmit information to this servicer. The U.S. Department of Education requires independent compliance audits for third-party servicers that help colleges and universities administer Title IV programs and, as part of our on-going due diligence, we reviewed the attestation opinion issued by the independent auditor, who noted no issues with respect to this particular compliance requirement or the servicer?s ability to comply with it. The University has discussed with the third-party servicer its process for submitting Campus-Level information to the NSLDS, and changes are being made by the servicer to ensure its own compliance with the methodology for transmitting data to the NSLDS. The University is also undertaking a detailed review of this servicer?s performance to mitigate the risk of recurrence.
The accurate reporting of campus-level OPEID is required by federal regulation for Title IV students, and although the reporting provides data on Title IV programs, it does not prompt repayment on loans or have any impact on a student's federal aid eligibility. Pursuant to a root-cause analysis conducted by the University, it was determined (and ultimately acknowledged) by the servicer that it had failed to follow established protocols prior to transmitting this information to NSLDS, which led to this finding. The information provided by the University was accurate and consistent with the methodology we use regularly to transmit information to this servicer. The U.S. Department of Education requires independent compliance audits for third-party servicers that help colleges and universities administer Title IV programs and, as part of our on-going due diligence, we reviewed the attestation opinion issued by the independent auditor, who noted no issues with respect to this particular compliance requirement or the servicer?s ability to comply with it. The University has discussed with the third-party servicer its process for submitting Campus-Level information to the NSLDS, and changes are being made by the servicer to ensure its own compliance with the methodology for transmitting data to the NSLDS. The University is also undertaking a detailed review of this servicer?s performance to mitigate the risk of recurrence.
FAC accepted this audit on September 29, 2022 — management decision was due March 29, 2023.
FAC accepted this audit on May 3, 2021 — management decision was due November 3, 2021.
FAC accepted this audit on February 17, 2020 — management decision was due August 17, 2020.
2019 001 Significant Deficiency and Noncompliance: Special Tests and Provisions ? Disbursements to or on Behalf of Students Federal Program: Student Financial Assistance Cluster: Federal Direct Loan Program CFDA: 84.268 Federal Agency: U.S. Department of Education Federal Award Year: July 1, 2018 to June 30, 2019 Statistically valid sample: No and it was not intended to be Criteria An institution must notify the student, or parent in writing of (1) the date and amount of the disbursement, and (2) the student?s right, or parent?s right to cancel all or a portion of that loan or loan disbursement and have the loan proceeds returned to the holder of that loan or the TEACH Grant payments returned to the Department of Education; and (3) the procedure and time by which the student or parent must notify the institution that he or she wishes to cancel the loan, TEACH Grant, or TEACH Grant disbursement. The notification requirement on loan funds applies only if the funds are disbursed by EFT payment or master check (34 CFR 668.165). Institutions that implement an affirmative confirmation process (as described in 34 CFR 668.165 (a)(6)(i)) must make this notification to the student or parent no earlier than 30 days before, and no later than 30 days after, crediting the student?s account at the institution with Direct Loan or TEACH Grants. Institutions that do not implement an affirmative confirmation process must notify a student no earlier than 30 days before, but no later than 7 days after, crediting the student?s account and must give the student 30 days (instead of 14) to cancel all or part of the loan. Condition and Context We tested a sample of 40 students who received federal loans in fiscal year 2019. For all of the samples selected, the University did not notify the student or parent as required by 34 CFR 668.165. We noted the University?s internal controls include sending out an automated email to notify students and parents of loan disbursements and their rights. However, the automated emails were not sent in fiscal year 2019. Cause and Effect/Potential Effect Prior to fiscal year 2019, the University had a system in place to automatically send out notifications after funds were credited to students? accounts. The notification in accordance with 34 CFR 668.165 provided the borrower with the date and amount of the disbursement, the borrower?s right to cancel the loan and date by which the borrower must notify the University if they want to cancel the loan. An update to the University?s email system in fiscal year 2019 caused a glitch in the system which caused the system to not automatically send out the notifications. The University became aware of the issue in Summer 2019 and corrected the matter before the Fall 2019 semester, prior to the start of the 2019 audit. The University?s system of internal controls, although established, did not operate effectively and notifications were not sent to borrowers as intended and in accordance with the related compliance requirement. Although there are various ways in which an institution notifies a borrower of the amount and/or date of a disbursement, for example through the acceptance of Title IV financial aid, the signing of a promissory note, and bills sent to the borrower, borrowers may not be aware of their right to cancel loans that have been disbursed to their accounts. Questioned Costs There are no known questioned costs related to this finding. Recommendation We recommend that management review its current policies and procedures to notify students and parents regarding loan disbursements, in accordance with the compliance requirement and implement a manual control to review that automated notifications are actually sent out in accordance with University policy. The timing, frequency and precision of the manual control should be planned to ensure compliance with all aspects of the regulation.
Show full finding ▾Hide full finding ▴2019 001 Significant Deficiency and Noncompliance: Special Tests and Provisions ? Disbursements to or on Behalf of Students Federal Program: Student Financial Assistance Cluster: Federal Direct Loan Program CFDA: 84.268 Federal Agency: U.S. Department of Education Federal Award Year: July 1, 2018 to June 30, 2019 Statistically valid sample: No and it was not intended to be Criteria An institution must notify the student, or parent in writing of (1) the date and amount of the disbursement, and (2) the student?s right, or parent?s right to cancel all or a portion of that loan or loan disbursement and have the loan proceeds returned to the holder of that loan or the TEACH Grant payments returned to the Department of Education; and (3) the procedure and time by which the student or parent must notify the institution that he or she wishes to cancel the loan, TEACH Grant, or TEACH Grant disbursement. The notification requirement on loan funds applies only if the funds are disbursed by EFT payment or master check (34 CFR 668.165). Institutions that implement an affirmative confirmation process (as described in 34 CFR 668.165 (a)(6)(i)) must make this notification to the student or parent no earlier than 30 days before, and no later than 30 days after, crediting the student?s account at the institution with Direct Loan or TEACH Grants. Institutions that do not implement an affirmative confirmation process must notify a student no earlier than 30 days before, but no later than 7 days after, crediting the student?s account and must give the student 30 days (instead of 14) to cancel all or part of the loan. Condition and Context We tested a sample of 40 students who received federal loans in fiscal year 2019. For all of the samples selected, the University did not notify the student or parent as required by 34 CFR 668.165. We noted the University?s internal controls include sending out an automated email to notify students and parents of loan disbursements and their rights. However, the automated emails were not sent in fiscal year 2019. Cause and Effect/Potential Effect Prior to fiscal year 2019, the University had a system in place to automatically send out notifications after funds were credited to students? accounts. The notification in accordance with 34 CFR 668.165 provided the borrower with the date and amount of the disbursement, the borrower?s right to cancel the loan and date by which the borrower must notify the University if they want to cancel the loan. An update to the University?s email system in fiscal year 2019 caused a glitch in the system which caused the system to not automatically send out the notifications. The University became aware of the issue in Summer 2019 and corrected the matter before the Fall 2019 semester, prior to the start of the 2019 audit. The University?s system of internal controls, although established, did not operate effectively and notifications were not sent to borrowers as intended and in accordance with the related compliance requirement. Although there are various ways in which an institution notifies a borrower of the amount and/or date of a disbursement, for example through the acceptance of Title IV financial aid, the signing of a promissory note, and bills sent to the borrower, borrowers may not be aware of their right to cancel loans that have been disbursed to their accounts. Questioned Costs There are no known questioned costs related to this finding. Recommendation We recommend that management review its current policies and procedures to notify students and parents regarding loan disbursements, in accordance with the compliance requirement and implement a manual control to review that automated notifications are actually sent out in accordance with University policy. The timing, frequency and precision of the manual control should be planned to ensure compliance with all aspects of the regulation.
Views of Responsible Officials and Planned Corrective Action We agree with finding 2019 001. As noted, Student Financial Services (SFS) has a procedure to automatically email a notification to the respective student when a loan disbursement is applied to that student?s account. In Summer 2019, during an internal review, SFS discovered that this process had ceased due to a technical issue. The technical issue was immediately resolved when uncovered and the automatic notifications resumed. Additionally, SFS modified its procedures to include an email confirmation to multiple managers within the department confirming the status of these automatic notifications to students. Based on the auditor?s recommendation, SFS will also create a log of automatic notifications, and manually confirm they are actually sent out. It should be noted that students and their designees have 24 hour access to their student account, and they complete a Financial Responsibility Agreement, which informs them of their responsibility to pay any and all costs associated with their registration and outlines the process to dispute their bill.
FAC accepted this audit on February 13, 2019 — management decision was due August 13, 2019.
FAC accepted this audit on February 15, 2018 — management decision was due August 15, 2018.
FAC accepted this audit on February 6, 2017 — management decision was due August 6, 2017.
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