|Return of Title IV Funds (R2T4)|
Effective October 7, 2000 Title IV Refund Regulations require students who withdraw from all of their classes prior to the 60 percent point of the payment period to return the unearned portion of their Title IV financial aid to the Department of Education. Additionally, institutions may be required to return a portion of unearned funds to the Department of Education, and some students may be entitled to a post withdrawal disbursement.
Definition of a Title IV Recipient
A recipient of grant or loan assistance is a student who has received Title IV funds or has met the conditions that entitle the student to a late disbursement. Students must have a valid Institutional Student Information Record (ISIR) before the withdrawal date in order to be considered for the Return of Title IV evaluation.
Title IV funds which must be included in the refund calculations are listed in the priority order of their return as follows:
The institution does not participate in the Perkins loans programs.
Students who received or could have received only Federal Work Study funds are exempt from Return of Title IV Refund regulation.
Return of Title IV for students who withdraw due to military deployment
Student must submit a copy of the military deployment to the Registrar’s Office and the Financial Aid Office. If a Title IV eligible student withdraws because of being called to active duty, or has been otherwise impacted by the military mobilization, the school must perform Return of Title IV calculations that are required by statute and regulations. If those calculations result in the school being required to return funds to one or more of the Title IV programs, it must do so.