Audit: Benedict Broke Federal Student Loan Rules
COLUMBIA, S.C.
Benedict College has been ordered to repay $658,000 to a federal student loan program because of violations of the program’s rules, according to a recent audit.
The school also has been threatened with losing its loan program if it doesn’t improve its management and bookkeeping.
A loss of federal loan dollars would cripple Benedict, where more than 90 percent of the students rely on federal aid.
Benedict President David Swinton says the repayments and the threat were not something to be concerned about.
“That’s what auditors do,” he says. “They point out things that need to be fixed.
“That audit covered every year since the student loan program was started,” he adds. “That audit took two years to do. We disagreed with it.”
