Presentation College has established policies and procedures to define cash until payday loans in Beardstown IL and administer the Return of Title IV (R2T4) funds requirements as promulgated in the Higher Education Act (HEA), Section . The R2T4 policy includes information that reflects institutional procedures as well as text that is copied from the Federal Student Aid (FSA) Handbook, Volume 5 Chapter 1.
The R2T4 policy governs the determination of students’ eligibility to receive funding from the following federal programs offered at Presentation College (PC) when they cease attendance in all Title IV eligible classes during a semester:
The College adheres to federal policy, as set forth in the FSA Handbook and the Higher Education Act (HEA), Section in the administration of R2T4 policies and procedures in all respects.
Prior to the 60% point of the semester students earn a percentage of aid that increases with each day of attendance
Title IV funds are provided to students with the expectation that they will attend their classes for the entire period for which the assistance has been awarded. When students stop attending their classes, for any reason including medical withdrawals or even circumstances that are beyond their control, they ount of Title IV funds that they were originally awarded and may have already received.
When students stop attending all of their Title IV eligible classes and are no longer participating in any academicallyrelated activities (last date of engagement) the College is required to determine if the student is eligible to retain or to receive any Title IV financial aid. Federal regulations require the College to use a calculation called Return to Title IV (R2T4) to determine the percentage of financial aid funds the student has earned as well as the amount that is unearned.
The R2T4 calculation is based upon the concept that students earn their financial aid in proportion to the number of days they are enrolled in and attending their classes. The calculation is based upon the number of days that the student attended as a percentage of the days in the semester. Under this reasoning, a student who withdraws in the second week of classes has earned less of his financial aid than a student who withdraws in the seventh week. Once students have begun to attend approved classes, they begin to incrementally earn their Title IV financial aid (if they are otherwise eligible). Once aid recipients have attended their classes for 60% of the semester, they are considered to have earned 100% of their financial aid (as long as they are otherwise eligible) for that term and will not be required to return any funds.
If students withdraw from all of their Title IV eligible courses prior to completing at least 60% of a semester, typically they would have earned only a portion of the federal financial aid that they received, or are scheduled to receive, for that term. If a student remains enrolled in only those courses that are not Title IV eligible, an R2T4 calculation is likewise required. A prorated schedule is used to determine the amount and type of federal student aid funds they have and have not earned at the time of the withdrawal or cessation of attendance in all Title IV eligible classes.
Of note, students may have earned a percentage of their Title IV financial aid when they begin and then cease attendance during the two-week drop-add period at the beginning of the semester. Thus, students may be eligible for a post-withdrawal disbursement of Title IV aid when they cease attendance prior to the census date, regardless of whether the College has disbursed aid or assessed any institutional charges.