ERIC Number: ED393381
Record Type: RIE
Publication Date: 1995-Nov
Reference Count: N/A
Higher Education Cost Containment. Performance Audit, November 1995. Report of the State Auditor.
Colorado State Office of State Auditor, Denver.
Between June and September 1995, this performance audit examined Colorado higher education cost containment in debt refinancing and improvements to student loan processes according to generally accepted government auditing standards. With respect to debt refinancing, the audit concluded that in general, governing boards and institutions were saving money through their refinancing activities. The review recommended specific areas governing boards should address in their debt management strategies and in particular that the Board of Directors of the Auraria Higher Education Center and the Trustees of the State Colleges in Colorado develop written policies that establish a framework for evaluating refinancing opportunities. With respect to improving student loan processes and the audit's review of Direct Lending at the University of Colorado at Boulder (UCB) and at Colorado State University (CSU), the audit concluded that Direct Lending provided a number of benefits to students and schools at minimal cost. The audit also found areas for improvement in evaluating programs, tracking and estimating costs, monitoring federal draw requirements in interest benefits, and tracking students comments and complaints. The audit recommended that UCB and CSU improve processes for measuring and evaluating financial aid programs and that CSU improve various internal tracking systems. Institution responses are included. (JB)
Publication Type: Reports - Evaluative
Education Level: N/A
Authoring Institution: Colorado State Office of State Auditor, Denver.
Identifiers: Auraria Higher Education Center CO; Colorado; Colorado State University; Debt Financing; Direct Lending; State College and University Systems; University of Colorado Boulder