EIN: 942155109
UEI: SD7GCKHAJAU9
Data as of August 24, 2026
Management decision deadline — for entities that funded this organization
The FAC accepted this audit on November 11, 2020. 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 May 11, 2021 (1931 days ago).
What is a management decision? →One student was over awarded unsubsidized Stafford and PLUS Loans allowed based on their portion of the academic year attended. Cause: One student?s calculated proration of maximum assistance available based on the academic year attended by that student was inadvertently calculated incorrectly and resulted in more assistance awarded than the student?s calculated cost of attendance. The University?s internal controls failed to detect the error. Effect: Noncompliance with federal regulations could result in the loss of future federal financial aid funding. Questioned Costs: One student was over awarded $8,453 of unsubsidized PLUS Loans. Context: One of 40 students from a population of 607 students tested received more than the maximum benefit of student financial assistance based on need. Repeat finding: No Recommendation: The University should enhance their internal controls related to the review of cost of attendance. Management?s response: Management agrees with this finding. Please see corrective action plan attached.
Show full finding ▾Hide full finding ▴Criteria: Per 34 CFR 682.200 and the 2019-2020 Federal Student Financial Aid Handbook, a School is required to originate Stafford and PLUS Loans based on a student?s financial need and cost of attendance. Condition: One student was over awarded unsubsidized Stafford and PLUS Loans allowed based on their portion of the academic year attended. Cause: One student?s calculated proration of maximum assistance available based on the academic year attended by that student was inadvertently calculated incorrectly and resulted in more assistance awarded than the student?s calculated cost of attendance. The University?s internal controls failed to detect the error. Effect: Noncompliance with federal regulations could result in the loss of future federal financial aid funding. Questioned Costs: One student was over awarded $8,453 of unsubsidized PLUS Loans. Context: One of 40 students from a population of 607 students tested received more than the maximum benefit of student financial assistance based on need. Repeat finding: No Recommendation: The University should enhance their internal controls related to the review of cost of attendance. Management?s response: Management agrees with this finding. Please see corrective action plan attached.
Identifying Number: 2020-001 Finding: During performance of eligibility testing, 1 out of 40 students tested received more than the maximum benefit of student financial assistance based on cost of attendance. Per 34 CFR 682.200 and the 2019-2020 Federal Student Financial Aid Handbook, a School is required to originate Stafford and PLUS Loans based on a student?s financial need and cost of attendance. Corrective Action Taken or Planned: On August 5, 2020, the Financial Aid Department updated its policy for refunding for dropped courses and conducted a refresher training with the Financial Aid Advising team to review the process for reviewing all financial aid awards against each student?s need and cost of attendance. Additionally, Financial Aid will collaborate with our IT partners to develop a monthly report that will compare total awards to cost of attendance with an expected launch of November 1, 2020. These measures will help ensure that students are not awarded financial assistance above need and cost of attendance. The person responsible for the completion of the corrective action plan is Tonya Henry Vice President of Student Finance, and can be reached at (312) 488.6057 or thenry@tcsedsystem.edu.
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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