Howard University admits to 9-year financial aid scandal
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Title : Howard University admits to 9-year financial aid scandal
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Title : Howard University admits to 9-year financial aid scandal
link : Howard University admits to 9-year financial aid scandal
news-today.world | WASHINGTON — Howard University confirmed Wednesday that six employees have been fired for “misappropriation of funds” in its financial aid department.
President Wayne A.I. Frederick’s statement came 10 months after university officials learned about that misappropriation and one day after an anonymously sourced web article alleging misconduct.
“I was alerted in December 2016 that there may have been some misappropriation of university-provided financial aid funds,” Frederick said in the statement. “From the moment I was alerted that there may have been a misappropriation of funds, I have taken this situation extremely seriously.”
Frederick did not indicate how much exactly was misappropriated.
An outside auditor, RSM, was hired to investigate, according to that statement. They found that from 2007 to 2016, university employees who received tuition remission also received grants. The combination of these actually exceeded the total cost of attendance. As a result, they pocketed the difference.
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President Wayne A.I. Frederick’s statement came 10 months after university officials learned about that misappropriation and one day after an anonymously sourced web article alleging misconduct.
“I was alerted in December 2016 that there may have been some misappropriation of university-provided financial aid funds,” Frederick said in the statement. “From the moment I was alerted that there may have been a misappropriation of funds, I have taken this situation extremely seriously.”
Frederick did not indicate how much exactly was misappropriated.
An outside auditor, RSM, was hired to investigate, according to that statement. They found that from 2007 to 2016, university employees who received tuition remission also received grants. The combination of these actually exceeded the total cost of attendance. As a result, they pocketed the difference.
More
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You are now reading the article Howard University admits to 9-year financial aid scandal With link address https://newstoday-ok.blogspot.com/2018/03/howard-university-admits-to-9-year.html