What is R2T4 you ask? No, we are not being visited by the cast of Star Wars.
Return to Title IV (R2T4) is a Financial Aid process prescribed by the US Department of Education Federal Student Aid regulations, which requires schools to calculate how much financial aid students have earned when they withdraw, either officially or unofficially.
We have systems in place to properly calculate R2T4 for official withdrawals; unofficial withdrawals are the ones that become quite difficult to track. Unofficial withdrawals are the students who have ‘disappeared’ sometime during the semester and by the end of the semester have ended up with a term grade-point-average of 0.0 due to all Fs, Ws, or combination of those because they ceased attending classes.
When you assign final grades at the end of the term, there will now be a method for you to report a last date of attendance for any student who receives an F, I, or U grade. This information will enable us to properly calculate the amounts of earned and unearned financial aid for the student and return federal funds within the prescribed period of time. Faculty enter grades as usual; If a grade of F, I or U is entered, the message below appears and will not allow the grade roster to be submitted until a last date of attendance is added in the “last attend field.”
Thank you for your assistance in this very important matter. Failure on the part of the institution to complete this process each semester will result in fines and penalties from the US Department of Education. Together, we maintain compliance!
If you have any questions about R2T4, please contact:
Leigh Anne Hussey
Director of Financial Aid