Institutional Refunds and Return of Title IV Funds
The institution will use the following definition of withdrawal date:A. Official withdrawal is the date you notify the school of your intent to withdraw or the date of withdrawal you specify, whichever is later.
A. Unofficial 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.
RepaymentA. Reports are generated regularly throughout the semester to identify students who have withdrawn.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 you owe a repayment, you will be notified by mail and/or telephone of your repayment status. You will be informed that you may make full payment of your refund amount to the institution or you can establish a payment plan with the Department of Education (DOE). Crafton does not accept partial payments. You will submit payment n full 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 you are 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 RefundsIf the R2T4 calculation determines there is an institutional refund, your award will be 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 will compute and approve the amount of refund due to you according to the institutional refund schedule.
Consumer InformationR2T4 regulations are disclosed to students through tracking and award letter and various publications (i.e. student viewbook, catalogs, Web, etc.).