A Performance Audit
An Audit Report on the College Access Loan Program at the Higher Education Coordinating Board
The Higher Education Coordinating Board (Coordinating Board) administered the College Access Loan Program (CAL) in accordance with applicable criteria. It established controls to ensure that borrowers met CAL eligibility requirements and that loan accounts were updated accurately. However, the Coordinating Board should specify a time period to review error reports from its Higher Education Loan Management System to ensure that accounts are updated in a timely manner.
Administration of CAL
The Coordinating Board established controls for loan applications and administered loan payments properly; however, loan accounts were not always updated in a timely manner.
The Coordinating Board effectively maintained the completeness, integrity, and availability of CAL data.