A statutory schedule is used to determine the amount of Title IV funds a student has earned as of the date he/she ceases attendance officially or unofficially. Return of Title IV program assistance earned is based on the amount of time the student spent in academic attendance; it has no relationship to the students incurred institutional charges. The order of return of unearned funds no longer includes funds from sources other than the Title IV programs. Up through the sixty percent (60%) point of the enrollment period a pro rata scheduled is used to determine the amount of Title IV funds the student has earned at the time of withdrawal. After the 60% in the payment period or periods of enrollment, a student has earned 100 percent of the Title IV funds.
The institution will use the following definition of withdrawal date:
withdrawal is the date the student notifies the school of his/her intent to
withdraw or the date of withdrawal specified by the student whichever is later.
withdrawal is the date of recorded attendance as documented by the institution. If no withdrawal date is documented, the institution will use the 50% point in the semester as the withdrawal date.
A. Reports are generated regularly throughout the semester to identify students who have withdrawn. The R2T4 calculation is then performed.
B. Student Repayment - If the R2T4 calculation determines the student owes a repayment, students will be notified by mail and/or telephone of their repayment status. Students will be informed that they may make full payment of their refund amount to the institution or they can establish a payment plan with the Department of Education (DOE). CHC does not accept partial payments. Repayment in full by the student will be submitted to the DOE through a separate batch file.
Payments will be applied to PELL first and SEOG (if applicable) second.
C. Post Withdrawal Disbursement - If the R2T4 calculation determines that the student is eligible for Title IV funds, a disbursement will be generated based on the calculated amount.
D. A report is generated at the end of each semester to identify students who received all F’s and W’s to determine if R2T4 is required.
R2T4 Institutional Refunds
If the R2T4 calculation determines there is an institutional refund the student's award will revised to reflect the decrease in Title IV funds and a separate Pell payment batch will be submitted to the DOE.
Institutional Refunds of Tuition and Fees
The Office of Admissions and Records shall compute and approve the amount of refund due a student according to the institutional refund schedule. Reference Appendix D
R2T4 regulations are disclosed to students through tracking and award letter and various publications (i.e. student viewbook, catalogues, WEB, etc.).