Determination for students who earn all F and other zero quality point grades – When students receive all F and other zero quality point grades, the College is required to determine if they earned the grades or ceased to attend at some point in the semester.
When final grades for the semester have been posted, the FAO reviews the records of those students who received any combination of F, I, U and W grades to identify the last date of attendance as submitted by the students’ instructors. If the last date of attendance cannot be determined from this review, the FAO contacts the instructors for a last date of engagement.
Order of return of Title IV Funds to the federal programs – As dictated by federal regulation, the FAO returns Title IV funds that the student has not earned to the applicable program in the following order:
The student’s grace period for loan repayment of unsubsidized and subsidized Direct Loans will commence as of the date of the withdrawal from the College. Students should contact the financial aid office if they have questions regarding their grace period or repayment status.
Post-Withdrawal Disbursements If a student receives less federal student aid than the amount earned, the College must offer a disbursement of the earned aid that was not received. This is called a post-withdrawal disbursement. The College’s policy is to make post-withdrawal disbursements for grants within two weeks whenever it is possible to do so.
3. Inform the student of the result of the R2T4 calculation and any balance owed to the College from the required return of unearned funds;
3. Promptly pay any outstanding balance owed to Presentation College resulting from the required return of unearned Title https://getbadcreditloan.com/payday-loans-il/augusta/ IV aid;
4. Pay all collections costs and attorney’s fees that may be required to satisfy any balance that the student fails to promptly pay.
Whenever possible, post-withdrawal disbursements for loans are made within two weeks of the deadline established for the student to accept or decline the loan portion of a post-withdrawal disbursement
Sample R2T4 calculation – To review an example of how the R2T4 calculations affects a student who ceases attendance before the 60% point of the semester visit the financial aid pages on the College’s website.
A post-withdrawal disbursement to the student for earned Title IV funds in excess of outstanding current (educationally related) charges must be made as soon as possible, but no later than, 45 days for grants and as soon as possible, but no later than, 180 days for loans
The procedures and policies listed above are subject to change without advance notice as may be required by federal and institutional regulations. When the College makes updates, the new policy will be published as soon as is reasonably possible. Students are held to the most current published policy. The above policies and procedures are intended to provide an overview of a complicated and complex area of the Title IV regulations.
Students, parents and others who have questions regarding the R2T4 calculation or general inquiries about the Title IV federal student aid programs should connect with any of the following resources for information:
When students fail to attend their classes they could leave the College owing money because their charges for tuition, fees, housing and their meal plan exceed the amount of financial aid that they have earned. For these reasons, students are strongly advised to meet with a member of the business or financial aid office to discuss the financial consequences of dropping out of or withdrawing from the College, before doing so.