Each eligible postsecondary institution shall be subject to examination by the Georgia Student Finance Authority for the sole purpose of determining whether such institution has properly certified the cost of attendance, eligibility, and enrollment of students; accurately credited grants paid on behalf of such students; and properly complied with the rules and regulations established pursuant to this part; provided, however, that nothing in this part shall be construed to interfere with the authority of such institution to determine admissibility of students or to control its own curriculum, philosophy, purpose, or administration. In the event it is determined that an eligible postsecondary institution knowingly or through error certified an ineligible student to be eligible for a grant under this part, the amount of the grant paid to such institution pursuant to such certification shall be refunded by such institution to the Georgia Student Finance Authority. The Georgia Student Finance Authority may suspend an eligible postsecondary institution from receiving payments under this part if it fails to refund any moneys as required by this part.