Here's the summary of the report:
- While only 149 schools are in the Quality Assurance Program, those schools
disbursed 13 percent of all Federal Pell Grant (Pell Grant) funds during the
2007-08 Award Year.
- Schools varied widely in terms of how many criteria they used to select
ISIRs for verification; the number of criteria ranged from 1 to 59. The average
was 10.
- School verification prevented overpayments in the Pell Grant Program equal
to 13.6 percent of the Pell Grant funds that would have been awarded based
on the information students supplied on the Free Application for Federal Student
Aid (FAFSA). School verification efforts also prevented underpayments in the
Pell Grant Program that constituted 5.9 percent of initial Pell Grant eligibility.
- A sizable percentage of the ISIRs schools selected for verification in 2007-2008
did not need to be verified. Half of the selected dependent students and a
clear majority of the selected independent students experienced either no
change or only a minor change in aid eligibility after verification.
- Verification efforts that did not result in a major change in aid eligibility were concentrated among the most needy student groups. Only 13 percent of dependent students and 8 percent of independent with an automatic zero expected family contribution (EFC) experienced a change to a Pell Grant award when selected for verification.
Comments