Return of Title IV Policy (R2T4)
Refunds to the financial aid programs (PELL/Direct Loans (Stafford & Plus) will be made according to the Federal Return of Title IV Funds Policy and will be based upon the hours the student was scheduled to complete. Students may be required to repay Pell grant/Student Loan funds received for attendance in addition to any funds required to be returned by the school.
Conditions that Require A Return:
If a student withdrawals officially from a program (written withdrawal) or unofficially after the student reaches the maximum allowed absent days per pay period according to the Attendance Policy
, R2T4 must be calculated. Withdrawal date will be date of the official withdrawal letter or the date the student reaches the unofficial withdrawal requirement.
How R2T4 is Calculated:
In order to have earned 100% of aid a student must be in attendance until he/she reaches over 60% of scheduled hours for the payment period. To figure 60% of a program payment period, the program hours are divided in half (2 payment periods as allowed) and then multiplied by 60%. (i.e. In a 900 program class the payment periods would be 450 hours). After a student completed 275 hours of this program, he/she would be 100% eligible for aid for that payment period.) In this case, no funds need to be returned to the Title IV aid programs.
However, if a student withdraws before completing more than 60% of the payment period or period of enrollment, the amount of any Title IV loan and grant aid the student received for the payment period must be recalculated to reflect the portion of the payment period that he/she completed prior to withdrawal. The unearned Title IV loan and grant aid for the percentage of the payment period not completed must be returned to the applicable Title IV aid programs within 45 days of withdrawal date.
Students in a full-time program receiving Title IV aid will receive a refund based on percentage of hours completed. Calculation is determined by:
Hours Scheduled to Completed/Total Hours in the Payment Period = %
Unearned Title IV Aid to be Returned:
The calculated percentage of the payment period or period of enrollment completed becomes the percentage of the Title IV aid that the student has earned. The total Title IV aid disbursed to the student or that could have been disbursed to the student, minus the amount of Title IV aid earned by the student yields the amount of Title IV loan and grant aid that is unearned and that must be returned within 45 days of withdrawal. Aid must be returned in the following order: Unsubsidized Stafford Loan Money, Subsidized Stafford Loan Money, and then Pell Grant funds.
Note: The calculation of Title IV funds earned by the student has no relationship to the student’s incurred institutional charges. (See Refund Policy)
NOTE: Financial assistance is available from various local, State and Federal sources. While Adult Education will assist students in any possible manner, the ultimate responsibility for pursuing funding sources, making application, and meeting obligations is that of the student.