Catalog Addendum

Effective July 1, 2021

Return of Title IV (R2T4) Policy

Students that receive Federal Financial Aid may be subjected to Return of Title IV Funds (R2T4) calculation if the student is determined to be official or unofficial withdrawal for the semester during payment period. The calculation is used to determine the percentage of Federal Financial Aid that a student has earned based on the amount of time the student has attended courses(s). The student is determined to have attended more than 60 percent of the term is considered to have earned the financial aid. For student that is determined to have attended less than 60 percent, the school is required to determine the earned and unearned Title IV aid has earned as of the date the student ceased academic engagement.

If the student withdraws from all his courses prior to completing 60 percent of the term, the student may be required to repay a portion of the Federal Financial Aid that he/she received from the term. A Prorate schedule is used to determine the amount of Federal Student Aid will have earned and not earned at the time of withdrawal.

The return of Title IV fund calculation is based upon portion of the amount of time in which the student is enrolled to the total calendar days of the term.

The financial aid programs that are associated with the policy is as followed in the order of return:

Unsubsidized Federal Direct Loan
Subsidized Federal Direct Loan
Federal Direct Plus Loan
Pell Grant
Iraq-Afghanistan Service Grant
Federal Supplemental Education Opportunity Grant

The following situations when an R2T4 is not required,

Continues to attend at least one Title IV eligible course
Graduated or completed all requirements for graduation
Ceased academic engagement after successfully completing coursework equal to or greater than the coursework required for the institution’s definition of a half-time
Did not receive or not eligible to receive any Title IV fund
Only eligible to receive Federal Work Study funds

COVID-19 Waiver: Students enrolled in March 2020 and onwards till the end of national emergency that officially or unofficially withdrew from the term that were determined to have not completed more than 60 percent of the semester did not have unearned funds returned to Federal Financial Aid program

Post-Withdrawal Disbursements

When a school is completing a Return calculation for a studentsubject to verification the following rules apply:

A school must offer any post-withdrawal disbursement of loan funds within 30 days of the date the school determined the student withdrew. A school must always return any unearned Title IV funds it is responsible for returning within 45 days of the date the school determined the student withdrew.
A school must disburse any Title IV grant funds a student is due as part of a post-withdrawal disbursement within 45 days of the date the school determined the student withdrew and disburse any loan funds a student accepts within 180 days of the date the school determined the student withdrew.
Unless a student subject to verification has provided all required verification documents in time for the school to meet the Return deadlines, the school includes as Aid disbursed or Aid That Could Have Been Disbursed in the Return calculation only those Title IV funds not subject to verification.
If a student who failed to provide all required verification documents in time for the school to meet the Return deadline later provides those documents prior to the applicable verification deadline, the school must perform a new Return calculation on all of the aid the student qualified for based on the completed verification documents and make the appropriate adjustments.

 

The post-withdrawal disbursement must be applied to outstanding institutional charges before being paid directly to the student.

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