Wednesday, December 21, 2011

Pay attention to Where Financial Aid Dollars are Spent

An annual audit of Luzerne County Community College finds several “significant deficiencies” that “merit attention,”  according to this article.

One of the items on the list was the following bullet:

·   “Failure by the college bookstore to make sure federal financial aid to students is spent on items allowed by federal regulations.  The auditor found $4,748 of “questioned costs” in  a sampling of 138 students.

As the issue of college affordability becomes a topic of contention and possibly become a presidential campaign issue college store operations and financial aid could be something that might be investigated with more scrutiny so stores should be more attentive to financial aid rules regarding purchases made with financial aid dollars. 

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