Lipscomb University

Condition: Title IV funds related to one student, out of a total of 65 students that withdrew and received Title IV funds, were not remitted to the Department of Education within the required timeframe. Criteria: When a recipient of a Title IV grant or loan assistance withdraws from an institution during a payment period or period of enrollment in which the recipient began attendance, the institution must determine the amount of Title IV grant or loan assistance that the student earned as of the student's withdrawal date and must return the amount of Title IV funds for which it is responsible as soon as possible but no later than 45 days after the date of the institution's determination that the student withdrew (34 CFR 668.22(j)(1)). Questioned Costs: None Cause: The refund was calculated correctly but management inadvertently missed the refund when processing the returns. Effect: The University was not in compliance with the return of Title IV funds based on the refund not being remitted timely. Identification as a repeat finding, if applicable: Not applicable Recommendation: We recommend that a supervisor of the individual processing the return of funds compare the refunds calculated to the actual remittances to ensure all refunds are included. Views of Responsible Officials and Planned Corrective Actions: Management agrees with the finding. See corrective action plan.

Finding Summary: When a recipient of Title IV assistance withdraws from an institution during a payment period or period of enrollment in which the recipient began attendance, the institution must calculate the correct amount of Title IV grant or loan assistance that the student earned based on the student’s withdrawal date and allocation of Title IV funds and return unearned funds to the Department of Education within 45 days. During the fiscal year 2025 period, one student that withdrew during the Fall term required a return of Title IV funds. However, the funds were not returned to the Department of Education within the required timeframe. Corrective Action Plan: Student Financial Aid management has developed a new master return of Title IV spreadsheet to ensure the return of funds and is routinely monitored by three different members of the Financial Aid Team. Anticipated Completion Date: The procedures will be implemented for the 2025-2026 Financial Aid Year. Responsible Parties: Ron Anderson

Condition: The amount refunded to a student that withdrew during the period of enrollment was more than the amount calculated on the R2T4 form. Criteria: When a recipient of a Title IV grant or loan assistance withdraws from an institution during a payment period or period of enrollment in which the recipient began attendance, the institution must determine the amount of Title IV grant or loan assistance that the student earned as of the student's withdrawal date and must return the amount of Title IV funds for which it is responsible as soon as possible but no later than 45 days after the date of the institution's determination that the student withdrew (34 CFR 668.22(j)(1)). Questioned Costs: $324 Cause: The Return of Title IV calculation for the student in question was originally completed by an interim staff member using incorrect dates (she did not include semester scheduled days off). This calculation created a larger portion of the Federal Pell Grant to be returned. The error was found and corrected promptly. However, the term ended and the student was not registered for the next semester. It was determined the University was unable to re-request funding past the end of the term. Effect: The University was not in compliance with the return of Title IV funds based on the refund returned being greater than the calculated amount. Context: Out of 34 that withdrew during the period of enrollment and received title IV funds, one student out of four tested had a return which was greater than the calculated amount per the R2T4 form. Identification as a repeat finding, if applicable: Not applicable Recommendation: We recommend that a supervisor of the individual processing the return review all amounts being returned to verify the amounts match the approved RT24 form prior to final submission of payment. Views of Responsible Officials and Planned Corrective Actions: Management agrees with the finding. See corrective action plan.

Finding Summary: When a recipient of Title IV grant or loan assistance withdraws from an institution during a payment period or period of enrollment in which the recipient began attendance, the institution must calculate the correct amount of Title IV grant or loan assistance that the student earned based on the student's withdrawal date and allocation of Title IV funds. During 2023, one student that withdrew during the period of enrollment and required a return of funds had an amount refunded that was in excess of the amount calculated by the University. Corrective Action Plan (CAP): For 2023-2024, all Return to Title IV Processes will be completed by Debra McGee, Director of Financial Aid, and then reviewed by Ron Anderson, AVP Student Financial Services. We will ensure all scheduled University time off will be included in the calculations, and all regulations followed. Anticipated Completion Date: The procedures will be implemented for the 2023-2024 Financial Aid Year. Responsible Parties: Debra McGee, Ron Anderson

Reference Number: 2022-2: Untimely Return of Title IV Funds (R2T4) Federal Agency: U.S. DEPARTMENT OF EDUCATION Federal Program: Student Financial Aid Cluster Federal Assistance Listing Numbers: Various Federal Award Year: 2021 - 2022 Criteria: When a recipient of Title IV grant or loan assistance withdraws from an institution during a payment period or period of enrollment in which the recipient began attendance, the institution must determine the amount of Title IV grant or loan assistance that the student earned as of the student's withdrawal date and must return the amount of Title IV funds for which it is responsible as soon as possible but no later than 45 days after the date of the institution's determination that the student withdrew (34 CFR 668.22(j)(1)). Condition: Out of 37 students that withdrew during the period of enrollment and received Title IV funds, three students required a return of funds. For each of the three students requiring a return, each of the return of funds was returned between 78 and 273 days late. The sample was not intended to be, and was not, a statistically valid sample. Questioned Costs: None Cause: The return of funds was not completed in a timely manner primarily due to a recent system conversion and turnover in the financial aid office personnel that typically calculated and remitted the returns. Effect: The University was not in compliance with return of Title IV funds within the required 45 day period. Identification as a repeat finding, if applicable: Not applicable Recommendation: We recommend the University ensure all last dates of attendance are captured timely for students who withdraw and that the financial aid office implement controls to prevent future untimely remittances. Views of Responsible Officials and Planned Corrective Actions: Management agrees with the finding. See corrective action plan.

Responsible Individual(s): Ron Anderson, Associate VP of Student Financial Services Finding 2022-002 Federal Agency Name: Department of Education Program Name: Student Financial Aid Cluster CFDA No.: Various Finding Summary: When a recipient of Title IV grant or loan assistance withdraws from an institution during a payment period or period of enrollment in which the recipient began attendance, the institution must determine the amount of Title IV grant or loan assistance that the student earned as of the student's withdrawal date and must return the amount of Title IV funds for which it is responsible as soon as possible but no later than 45 days after the date of the institution's determination that the student withdrew. During 2022, three students that withdrew during the period of enrollment required a refund of funds. These returns of Title IV funds were not made within the 45 day period required. Corrective Action Plan (CAP): The University will partner with the Registrar?s Office to determine students who have withdrawn from Lipscomb and need to have Federal Title IV funds returned. These returns will be tracked in a spreadsheet, calculated within the Student Information System, and returned through Common Origination and Disbursement within the regulated 45 days. Anticipated Completion Date: The procedures will be implemented for the 2022-2023 Financial Aid Year. Responsible Parties: The Return to Title IV process will be done by staff in the Financial Aid Office as assigned by the Director and monitored by the Associate VP of Student Financial Services.