Summary of Steps 1-10
Within a matter of seconds, Student Financial Planning can process a 10 step Return to Title IV (R2T4) calculation.
Overview
The calculation is based on U.S. Department of Education (ED) regulations, and the system follows the Credit Hour R2T4 Worksheet.
When the calculation is triggered, Student Financial Planning automatically determines if:
- The student completed an Academic Related Activity (for example, Posts Attendance).
- The student was eligible for Title IV Aid.
- An ISIR was received by the Official Last Date of Attendance (OLDA).
Required Role Permissions
The user must have a role with the following General Permission through Roles Management in order to view the following information.
- Student
See Set General Permissions Matrix for additional information.
Page Summary
The R2T4 has a page dedicated to each step of the calculation, but there are some features that are visible for every step.
| Number | Feature | Description |
| 1 | Header | The header has the OLDA, Status, Completion Date and the DOD listed |
| 2 | Comments | The comments can be expanded or collapsed by clicking on the word "Comments" or the icon found in the side panel |
| 3 | Side Panel |
The side panel displays all R2T4 calculations and all completed steps The side panel can be collapsed or expanded by using the double arrow icon at the bottom of the side panel |
| 4 | Calculations | At the top of the side panel, you can choose to view the latest or a previous calculation by clicking on the link or the icon |
Tool tips have been added to define acronyms. Hover over acronyms, icons or other data in the header or side panel to view the tool tip.
Step 1 - Student's Title IV Aid Information
The application records and displays which funds Disbursed and should be included in the R2T4 Calculation and which funds Could Have Been Disbursed (CHBD) and should also be included in the R2T4 Calculation.
Click the information icon to see the Credit Hour Calculation data inputs for the calculations:
- E: Amount of Title IV Grants Disbursed (A) + Amount of Title IV Loans Disbursed (B) = Total Title IV aid disbursed for the period (E).
- F: Amount of Title IV Grants Disbursed (A) + Amount of Title IV Grants that CHBD (C) = Total Title IV grant aid disbursed and that CHBD for the period (F).
- G: Amount of Title IV Grants Disbursed (A) + Amount of Title IV Loans Disbursed (B) + Amount of Title IV Grants that CHBD (C) + Amount of Title IV Loans that CHBD (D) = Total Title IV aid disbursed and that CHBD for the period (G).
Click the fund type to view additional details.
Step 2 - Percentage of Title IV Aid Earned
The package drives all the Payment Period information for Step 2. Underneath the Break Detail Information table is a link to the specific R2T4 Package Version this calculation maps to.
Step 2 Detail Table
This table shows you all of the data inputs and the entire calculation to determine the value for (H).
Completed Days ÷ Calendar Days (Total Days) = (H) Percentage of Payment Period (PP) Completed.
Footnotes are displayed under this table to provide additional details
Break Detail Information Table
The application automatically calculates breaks between courses but is also able to receive an inbound message from the SIS to capture other types of breaks (i.e. Leave of Absence, Institutional Breaks, etc...). Each break is listed in chronological order.
- Sum of Break Days is the Total Number of Break Days.
- Completed Break Days is the Break Days Included up to the
Official Last Date of Attendance (OLDA).
- The sum value of this column is used to calculate the Completed Days Minus Breaks.
- Calendar Break Days is the Break Days Included up to the
Payment Period (PP) End Date.
- The sum value of this column is used to calculate the Calendar Days Minus Break Days.
- The Payment Period (PP) Start Date row indicates where the PP starts including breaks in the R2T4 Calculation.
- The Payment Period (PP) End Date row indicates where the application stops including breaks in the R2T4 Calculation.
- The Withdrawal row indicates the student's OLDA.
- Breaks that occur after the OLDA are not included in the Completed Break Days column or to calculate the Completed Days Minus Breaks.
- Breaks that are less than 5 days are not included in the calculation.
- If a break is subject to Institutional Policy Configuration (IPC), the application makes necessary adjustments.
Under this table is important information about the data used to calculate the R2T4.
- View Program Details for Withdrawal Safi: Click link to see additional Program Information page details using the data inputs from the R2T4 SAFI.
- R2T4 Packaging Version: Click link to view additional details on the Packaging page and view the packaging version associated with the R2T4 calculation.
R2T4 SAFI Course Table
This table provides a full list of the courses in the program but highlights courses scheduled during the assessed payment period.
Completed Days Minus Breaks
Calendar Days Minus Breaks (Total Days).
Credit Hour Calculation data inputs for Box H: Completed Days ÷ Calendar Days (Total Days) = (H) Percentage of Payment Period (PP) Completed.
Step 3 - Amount of Title IV Aid Earned by the Student
The application automatically calculates the TIV Aid Earned by the Student and shows the math used to calculate those amounts.
Percentage Earned (H) × Total Title IV Aid Disbursed and CHBD for the Period (G) = Amount of Title IV aid earned by the student (I).
Step 4 - Title IV Aid to be Disbursed or Returned
This is a calculation of the aid to be disbursed as a Post-Withdrawal Disbursement (PWD) or returned to the lender.
- If the R2T4 Calculation results in a PWD, the calculation stops here and the PWD Amount is listed.
- If this calculation results in a Grant Overpayment (GOP), it’s completed through Step 10.
- If there is an R2T4 return for the school or student to make, the calculation continues through Step 8.
The application automatically follows through the entire disbursing process including requesting any additional acceptance for loans if necessary.
Amount of Title IV Aid Earned by the Student (I) - Total Title IV aid disbursed for the period (E) = Title IV aid to be returned (K).
Step 5 - Amount of Unearned Title IV Aid Due from the School
Institutional Charges come from the packaging information. Whatever the school provides for courses that are included in the assessed R2T4 payment period, the application automatically pulls in those charges and records them in Step 5. To accurately account for institutional charges in the calculation, configure the Charge_Types in the R2T4_Charges.csv configuration workbook. Also, the Charge Date needs to be within the payment period being assessed.
Total Institutional Charges (L)
100% − Percentage Earned (H) = Percentage of unearned Title IV aid (M).
Total Institutional Charges (L) × Percentage of unearned Title IV aid (M) = Amount of unearned charges (N).
Compare The amount of Title IV aid to be returned (Item K) to Amount of unearned charges (N).
The lesser amount of (K) and (N) = Amount for school to return (O).
Step 6 - Return of Funds by the School
- Displays the fund types and amounts the school should return.
- The order in which funds are returned hard coded based on ED regulations.
The school must return the unearned aid for which the school is responsible ((Amount for school to return (O)) by repaying funds to the following sources, in order, up to the total net amount disbursed from each source.
Total loans the school must return = (P).
Step 7 - Initial Amount of Unearned Title IV Aid Due from the Student
The application automatically calculates the TIV Aid Due from the student.
Title IV aid to be returned (K) − Amount for school to return (O) = Initial Amount of Unearned Title IV Aid Due from the Student (Q).
Step 8 - Repayment of the Student Loans
The application automatically calculates the amount of Student Loans.
- Returned by the school.
- Repaid by the student.
Amount of Title IV Loans Disbursed (B) − Total loans the school must return (P) = Amount of Title IV loans the student is still responsible for repaying.
Step 9 - Grant Funds to be Returned
The application automatically calculates the Amount of Grant Funds the student is required to return.
- Initial Amount of Unearned Title IV Aid Due from the Student (Q) − Amount of Title IV loans the student is still responsible for paying (R) = Initial Amount of Title IV grants for the student to return (S).
- Total Title IV grant aid disbursed and that could have been disbursed for the period (F) × 50% = Amount of Title IV grant protection (T).
- Initial Amount of Title IV grants for the student to return (S) − Amount of Title IV grant protection (T) = Title IV grant funds for student to return (U).
Step 10 - Return of Grant Funds by the Student
Displays a table with the Grant Funds and the associated amounts to be returned by the student.
Grant Overpayment
The application follows regulations set by ED with respect to grant overpayments. The system automatically triggers a task based on the regulatory deadlines so that you can report a payment whether it is partial or in full, and then report any remaining Grant Overpayment to NSLDS and Default Resolution Services (DRS).
The student must return the unearned grant funds for which they are responsible (U). The grant funds returned by the student are applied in order as indicated, up to the amount disbursed from that grant program minus any grant funds the school is responsible for returning to that program in Step 6.