What Title IV programs are exempt from R2T4 requirements?
Federal Work Study
What is unearned aid?
The amount of disbursed Title IV aid a withdrawn student received that exceeds the amount of Title IV aid earned as of the withdrawal date
When is a student considered to have withdrawn from a credit-hour program?
A student has withdrawn if they do not complete all the days in the payment period that they were scheduled to complete
What 5 withdrawal scenarios would exempt a student from R2T4 requirements?
1) the student did not begin attendance, 2) a partial withdrawal, 3) the student completed the requirements for graduation, 4) the student completes module(s) containing 49%+ of the number of days in the payment period, and 5) the student completes coursework in module(s) equal to or greater than the coursework required for a half-time student
For unofficial withdrawals, how can schools that do not take attendance determine the withdrawal date?
Schools that do not take attendance can use the documented last date of academic engagement or the midpoint of the payment period as the withdrawal date
If a school takes attendance only on the census date, are they classified as an attendance-taking school for R2T4 purposes?
No
For unofficial withdrawals, how long do schools that do not take attendance have to determine the student’s unofficial withdrawal date?
They must do so within 30 days after the end of the earliest of either the payment period or the educational program from which the student withdrew
Is a school required to have a student Leave of Absence (LOA) policy?
No
If a student takes an unapproved LOA or fails to return from an approved LOA, when is the student considered withdrawn?
The withdrawal date is the date the student began the leave of absence. For attendance-taking schools, it would be the last date of attendance.
What days are always excluded from the denominator of the R2T4 calculation?
Approved LOAs and scheduled breaks of at least five consecutive days
If a student accepts Title IV loans before a withdrawal, what must be true for the loans to be included as “aid that could have been disbursed”?
The loan must be originated before the withdrawal, and the MPN must be signed before the R2T4; for PLUS loans, the borrower must possess a satisfactory credit check, and if done via an endorser, the endorser must have signed their addendum before the R2T4
What is the benefit for the student by having the R2T4 calculation consider aid that could have been disbursed?
The student may be able to keep more aid and less money will have to be returned to ED
What is the rounding rule when calculating the amount of earned aid in the R2T4 calculation?
Round to the nearest penny. Round the second decimal place up if the third decimal place is 5+
What is the R2T4 equation to determine how much of a student’s aid is earned?
Unearned Aid = Disbursed Aid + Aid that could have been disbursed - Earned Aid
What is the order of programs in which aid is returned in an R2T4?
Unsubsidized, Subsidized, PLUS, Pell, FSEOG, and then TEACH
What is the de minimis Title IV grant amount for a student?
The student is not required to return unearned grant funds of $50 or less
When is a school not required to return its unearned share of the R2T4 calculation?
When the amount of Title IV funds to be returned is less than one dollar
