Indiana University awarded students more than $250,000 in excess financial aid, an audit has found, but students who received more than they should have will not have to repay the money.

A State Board of Accounts audit last month showed IU gave students $273,889 more than it should have between July 2004 to June 2005. The university received a total of $400 million in federal aid funds during that time.

In some cases, IU did not consider scholarships and grants when determining a student’s financial need, resulting in overpayments, the audit said.

Some students awarded federal grants did not enroll in classes, but the grants weren’t refunded, the report said. The audit also found incorrect charges and housing allowances at some IU campuses. IU officials blamed the problems on internal reports that were generated as a new software system was being implemented.

The university is tightening internal controls and repaying the government for excessive awards.

“We do need to improve our business processes, and we are working very hard to do that,” said Art Lindeman, associate vice president and director of student enrollment services.

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This entry was posted by Taman Siswa on Thursday, June 8, 2006 at 2:26 am and is filed under Financial Aid. Tags: Art Lindeman, Financial Aid, Grant, Indiana University, Scholarship, software system, State Board of Accounts, Student, student enrollment services, . You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.