EIN: 382333042
UEI: JJ4ZWWNME9D6
Audited by: Sikich CPA LLC
Oversight agency: 84 [Department of Education]
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Data as of September 7, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on January 8, 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 July 8, 2026 (68 days ago).
What is a management decision? →We tested thirty-seven files, of which all were Federal Direct Loan recipients, and proof of loan exit counseling was missing for one student. We consider this finding to be an instance of non-compliance. Cause: The condition was caused by an oversight in the financial aid department. Effect: The result of not conducting exit counseling is students may be uninformed about the responsibilities and consequences of borrowing funds. Question Costs: $6,761 Statistical sampling was not used when making sample selections. Recommendation: As the Institution has since provided the missing exit counseling to the student, we recommend the Institution improve control over exit interviews. Views of Responsible Officials: The Institution agrees with the Single Audit Finding and a response is included in the Corrective Action Plan.
Show full finding ▾Hide full finding ▴FINDING 2025-001: MISSING PROOF OF LOAN EXIT COUNSELING FEDERAL AGENCY: U.S. DEPARTMENT OF EDUCATION PROGRAM NAME: FEDERAL DIRECT LOAN PROGRAM ALN#: 84.268 FEDERAL AWARD YEAR: 2024-2025 Compliance Requirement: N. Special Tests and Provisions - Disbursements Criteria: Each student that receives Federal Direct Loans is required to have entrance counseling before release of the first disbursement and exit counseling when they withdraw, graduate, or drop (34 CFR 685.304). Condition: We tested thirty-seven files, of which all were Federal Direct Loan recipients, and proof of loan exit counseling was missing for one student. We consider this finding to be an instance of non-compliance. Cause: The condition was caused by an oversight in the financial aid department. Effect: The result of not conducting exit counseling is students may be uninformed about the responsibilities and consequences of borrowing funds. Question Costs: $6,761 Statistical sampling was not used when making sample selections. Recommendation: As the Institution has since provided the missing exit counseling to the student, we recommend the Institution improve control over exit interviews. Views of Responsible Officials: The Institution agrees with the Single Audit Finding and a response is included in the Corrective Action Plan.
Finding 2025-001: Missing Proof of Loan Exit Counseling – the auditor tested thirty-seven files, of which all were Federal Direct Loan recipients, and proof of loan exit counseling was missing for one student. As the Institution has since provided the missing exit counseling to the student, it is recommended the Institution improve control over exit interviews. Comments on Finding and Recommendation(s): It is agreed that MSP originally missed providing Direct Loan exit counseling for the 1 student found in testing. The student did not graduate or withdraw, but simply did not return for a following semester. This was an oversight in existing procedures as we were not actively looking for this population of students previously. Actions Taken or Planned: MSP immediately revised the monthly enrollment reporting process such that the initial report for each semester now includes queries to look for students who were enrolled in the prior semester, but have not returned. They will be sent Direct Loan exit counseling requirement information and an email with a URL link to complete the process at StudentAid.gov. In addition, in cases that the registrar becomes aware that a student will not return, they will share that information with Financial Aid.
FAC accepted this audit on February 26, 2025 — management decision was due August 26, 2025.
FAC accepted this audit on January 10, 2024 — management decision was due July 10, 2024.
FAC accepted this audit on February 5, 2023 — management decision was due August 5, 2023.
FAC accepted this audit on January 2, 2022 — management decision was due July 2, 2022.
FAC accepted this audit on December 7, 2020 — management decision was due June 7, 2021.
FAC accepted this audit on November 19, 2019 — management decision was due May 19, 2020.
FAC accepted this audit on January 2, 2019 — management decision was due July 2, 2019.
FAC accepted this audit on January 10, 2018 — management decision was due July 10, 2018.
FAC accepted this audit on January 12, 2017 — management decision was due July 12, 2017.
Data source: This information comes from the Federal Audit Clearinghouse, the official repository of Single Audit data. All data is public domain. Verify this organization's audit history at fac.gov.
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