This is the seventh in a series of 10 blog posts related to the Top 10 Audit Findings of the U.S. Department of Education.

One of the top 10 audit findings, according to the U.S. Department of Education, includes student credit balance deficiencies. Indicated causes include:

 - Credit balances not released to students within 14 days,
- No process in place to determine when a credit balance has been created,
- Non-compliant authorization to hold Title IV credit balances, and
- Credit balances not released by the end of loan period or award year.

Credit balances can occur in many ways and may be the result of payments from not only Title IV program funds, but also personal funds, private loans, and institutional grants. Also, as you are aware, credit balances may be related to and affected by changes in a student's enrollment status that might affect federal or other aid eligibility. Technically, a Title IV credit balance typically occurs whenever your school credits Title IV program funds to a student’s account and the total amount of those funds exceeds the student’s allowable charges.

This is the fourth in a series of 10 blog posts related to the Top 10 Audit Findings of the U.S. Department of Education.

According to the U.S. Department of Education, one of the top 10 audit findings is R2T4 (return of Title IV funds) made late. The Department finds that many institutions are having trouble making returns within the allowable timeframe.  Common reasons for late returns include an institution’s policies and procedures not followed; returns not made within the allowable 45-day time frame; inadequate system in place to identify/track official and unofficial withdrawals; and, no system in place to track number of days remaining to return funds.

This is the third in a series of 10 blog posts related to the Top 10 Audit Findings of the U.S. Department of Education.

According to the U.S. Department of Education, one of the top 10 audit findings is R2T4 (return of Title IV funds) calculation errors.

From a technical standpoint, regulations require that Title IV financial aid allocated for a student who later withdraws should be returned.