This Return of Title IV Funds (R2T4) policy applies to anyone who receives federal financial aid, has begun classes, and subsequently either withdraws from the courses the student was scheduled to complete and/or receives all failing grades during the payment period. (We have three payment periods at Stevenson University: fall, spring, and summer semesters).
When a student withdraws from his/her courses, for any reason including medical withdrawals, he/she may no longer be eligible for the full amount of Title IV funds the student was originally scheduled to receive. SU follows the federally prescribed policies and procedures for calculating whether the student has earned all or a portion of their federal financial aid.
For students in accelerated courses (sessions) within the 16 week payment period, such as 8 week 1, 8 week 2, 5 week 1, 2, or 3, and/or any other variable length course that is not scheduled to run the entire 16 weeks, we are required to review each session individually. This means that even if a student successfully completes one session and subsequently withdraws from a later term within the same payment period, we still must review eligibility under the most recent federal guidance.
SU is required to return all unearned federal aid attributed to school charges. This means that a portion of the student's tuition and fees is no longer covered by financial aid, and the student is liable for paying the balance of school charges. This amount will be subject to immediate repayment and no further registration activity will be allowed and official transcripts will not be released until the balance is paid in full.
Stevenson University's tuition refund policy will not affect the amount of Title IV aid the student has earned as described in this document. The tuition refund policy is located at http://wwww.stevenson.edu/student-accounts/refund.asp.
For an official withdrawal, the effective withdrawal date is the first date of written notification by the student to the Registrar's Office. Students should complete the withdrawal form located at http://ssc.stevensonuniversity.org/registrar/forms/. Traditional students should use the "Traditional Withdraw or Audit Class Form" and Accelerated students should use the "Accelerated Students Withdrawal Form." If a student does not follow the official withdrawal procedure and subsequently earns a grade of FX, the effective withdrawal date must be determined on a case-by-case basis.
SU may use a last date of attendance at an academically related activity for the effective withdrawal date if the last date a student attended class or submitted coursework is verified by an employee at SU (or an employee at one of our consortium institutions) who has sufficient knowledge of a student's academic participation, or if there is an emergency situation (death, incapacitation, etc.) and there is third party documentation that verifies a student has not academically participated. In the case of unofficial withdrawals, SU does not accept a student's self-reported last date of attendance.
Regulations require schools to perform calculations within 30 days from the date the school determines a student's withdrawal and to process the actual return of funds within 45 days of the student's withdrawal.
R2T4 Process - the Financial Aid Office follows the instructions outlined in the federal worksheet when calculating Title IV earnings according to the following steps:
Step 1 Student's Title IV Aid Information
Step 2 Percentage of Title IV Aid Earned
The Financial Aid Office will calculate the percentage of aid earned as follows:
Days attended (minus scheduled breaks if attended through that period /
Days in Payment Period (minus scheduled breaks) = Percentage Completed
Days attended (minus scheduled breaks if attended through that period)/
Days in Payment Period (minus scheduled or unscheduled breaks) = Percentage Completed
Please note: If the calculated percentage exceeds 60%, then the student has 'earned' all aid for that period.
Step 3 Amount of Title IV Aid Earned by the Student
The Financial Aid Office will calculate the amount of aid earned by the percentage of Title IV aid earned (Step 2) multiplied by the total amount of Title IV aid disbursed or by what could have been disbursed for the payment period in which the student withdrew (Step 1).
Total aid disbursed x Percentage Completed = Earned Aid
Step 4 Amount of Title IV Aid to be Returned or Disbursed
Total Disbursed Aid - Earned Aid = Unearned Aid to be Returned
Step 5 Amount of Unearned Title IV Aid to be Returned by the School
Step 6 Order of Returned Funds by the School
The order of return of funds is proscribed by the Department of Education as follows:
Unsubsidized Federal Direct Loans
Subsidized Direct Loans
Federal Perkins Loans
Direct PLUS Loans (both Parent and Graduate)
Federal Pell Grants
Federal Supplemental Opportunity Grants
Steps 7, 8, 9, & 10 Unearned Title IV Funds Due Directly from the Student
Notification: Students will receive a revised award letter indicating the actions taken by the Financial Aid Office, including any information on funds that may have been returned to the federal aid program(s) on behalf of the student.
How can a student attending accelerated courses (sessions) determine if they are a withdrawal for Title IV purposes?
Take for example, a student who is a recipient of Title IV program funds who is scheduled to complete two courses in each of the first two of three sessions within the payment period (5 week 1 and 5 week 2).
Scenario 1: The student begins attendance in both courses in the first session, but ceases to attend both courses after just a few days and does not confirm that he/she will return to any courses in sessions two or three. The student is a withdrawal because he/she ceased to attend courses he/she was scheduled to attend (yes to first bullet); was not still attending any other courses (no to second bullet); and did not confirm attendance in a course in a session beginning later in the period (no to bullet 3).
Scenario 2: The student begins attendance in both courses in the first module, but withdraws from just one of the courses after just a few days. The student is not a withdrawal. Although the student ceased to attend a course he/she was scheduled to attend (yes to bullet 1), the student was still attending another course (yes to bullet 2).
Scenario 3: If the student completes both courses in one term, but officially drops both courses in term two while still attending the courses in term one, the student is not a withdrawal. Because the student officially dropped both courses in module two before he/she was scheduled to attend (no to bullet 1). However, because the student did not begin attendance in all courses, other regulatory provisions concerning recalculation may apply.
Scenario 4: If the student completes both courses in session one, start attending both courses in session two but withdraws from both of these courses, the student is a withdrawal. Although the student successfully completed the first module, the student ceased to attend courses he/she was scheduled to attend (yes to bullet 1); was not still attending any other courses (no to bullet 2); and did not confirm attendance in a course in a term beginning later in the period (no to question 3).
Intent to Enroll: Confirmation of Attendance in a Future Module during the Payment Period
As mentioned in the above scenarios, when it is determined that a student has withdrawn, students must confirm attendance in a future course within the same payment period, even if the student is already registered for future courses. You can confirm attendance by completing the bottom section of the online Accelerated Students Class Add/Drop or Withdrawal Form. This form allows us to suspend the Return of Title IV Funds calculation. As long as the student successfully completes the future course(s) within the current payment period, no other action will be necessary.
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