Students who withdraw or are administratively withdrawn from school prior to the 60% completion point of any semester will require a R2T4 calculation to determine how much of their financial aid was earned and how much should be paid back to the school and/or federal government. The withdrawal date is the date that the Registrar’s office receives the official withdrawal form. For a student who did not provide notification of his or her withdrawal to the institution, the date that the institution becomes aware that the student ceased attendance should be used as the withdrawal date. If the student ceases attendance without providing official notification to the institution of his or her withdrawal, the mid-point of the payment period or the last date of recorded attendance is used as the withdrawal date. Only students who have withdrawn from all classes are subject to the return of Title IV funds formula.
The amount that is returned is calculated using the percentage of aid earned by calculating the percentage of the period that the student completed based on the withdrawal date. The amount of aid a student received is considered in the calculation to determine how much was actually earned. If unearned funds are to be returned, the amount that the student or the school must return is calculated.
For a student who provides notification to the institution of his or her withdrawal, R2T4 is determined by the student's withdrawal date or the date of notification of withdrawal, whichever is later. For a student who did not provide notification of his of her withdrawal to the institution, the date that the institution becomes aware that the student ceased attendance is used as the withdrawal date.
Students who unofficially withdraw are identified as having all failing grades (F) on their semester grade report. If students who unofficially withdraw are able to provide documentation proving their attendance in any class after the mid-point of the semester, the financial aid office will then re-calculate R2T4 funds based on the modified date as the withdrawal date.
R2T4 funds will be returned using the following priority:
- Unsubsidized Federal Stafford loans
- Subsidized Federal Stafford loans
- Federal PLUS loans
- Federal Pell Grants for which a return of funds is required
- Federal Supplemental Educational Opportunity Grants