"The results of our audit disclosed a deficiency in internal control and an instance of noncompliance that are considered reportable under Government Auditing Standards. 

 

This item included:

• The University did not notify students or parents each time a Direct Loan disbursement was credited to the student’s account, as required by federal regulations. Therefore, students and parents were not provided information needed to make an informed decision related to the acceptance or rejection of these loans. Details about this item are provided in the Audit Findings and Responses section of the report.

 

The audit can be found at:

http://www.ncauditor.net/EpsWeb/Reports/Financial/FSA-2013-6070.pdf