Internal Audit Reveals Millions in Unreported Financial Aid at ECU

East Carolina University

An internal audit revealed $5 million in unreported financial aid awards to students of the Brody School of Medicine at ECU. An audit shows those awards were distributed by the Brody School's financial aid office and were not reported to the university. The audit stated those unreported awards could have jeopardized ECU's agreement with the U.S. Department of Education. During the 2005-2006 school year, ECU awarded students more than $92 million in federal financial aid. ECU student Jeremy Franklin, who receives financial aid, says any threat to student financial aid is a big concern. This audit follows a two-year state probe into allegations that an ECU financial aid employee accepted financial kickbacks from grant recipients. That case is still being reviewed by the Pitt County District Attorney's office.