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:
The following situations when an R2T4 is not required,
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
When a school is completing a Return calculation for a studentsubject to verification the following rules apply:
The post-withdrawal disbursement must be applied to outstanding institutional charges before being paid directly to the student.