R2T4 Information

Overview

Student Financial Planning receives information from the institution's Student Information System (SIS). The student's enrollment status of withdrawn/deceased, Official Last Day of Attendance (OLDA) and Date of Determination (DOD) are all required and documented on the student record before the R2T4 calculation is triggered. Student Financial Planning uses the student's OLDA to determine if an R2T4 is required and which term or payment period to access when an R2T4 calculation is required. You can view the status of the R2T4 calculation in the Student Financial Planning UI.

R2T4 Process Statuses

Status	Description
Not Required	The R2T4 calculation isn't required.
Not Started	The R2T4 calculation has not started.
Scheduled	The R2T4 calculation has been scheduled.
Paused	The R2T4 calculation has been paused.
Held for QC Review	The R2T4 calculation is on hold due to a QC Hold.
Canceled	The R2T4 calculation has been canceled.
Completed	The R2T4 calculation has been completed.

What Student Financial Planning Does Automatically

Student Financial Planning automatically does the following things:

Determines if an R2T4 calculation is required

When a student is withdrawn, Student Financial Planning evaluates criteria to determine if an R2T4 is required. The following elements are evaluated:

Whether an ISIR was received before the student's withdrawal date (OLDA).
Whether the student received any Title IV disbursements in the term or payment period.
Title IV eligibility rules.
Whether the student has started attending.
Whether funds have been Awarded.
Academic and Admission Status.
Could Have Been Disbursed Criteria Configuration.

Determines if other processes are pending before completing the calculation

Student Financial Planning evaluates all pending processes before beginning a calculation. Some processes can cause the R2T4 calculation to be put on hold until the other pending process is completed, to ensure an accurate calculation.

Examples:

If an ISIR was received before the OLDA but isn't valid, the R2T4 will not be completed until the ISIR becomes valid or until the R2T4 Calculation Deadline has been met
If the student is in the process of being packaged/re-packaged, the R2T4 will not be completed until the packaging/re-packaging process is complete
Before completing the R2T4, Student Financial Planning determines if all disbursements with a Payment ID have a Student Academic Financial Information (SAFI) - Ledger Posting Date that has been reconciled with the Disbursement Date

R2T4 Process Pending Reasons

Status	Description
Pending Configured Delay	The school can configure the R2T4 to trigger immediately or after a specific number of days based on the type of withdrawal. For example, if a student has a withdrawal type of Official Withdrawal, and the configured delay is 0 days, the R2T4 calculation may be triggered once the enrollment status is received. However, if a student has a withdrawal type of Unofficial Withdrawal, and R2T4 calculation has a configured delay of 14 days the R2T4 calculation will be triggered on the 15th day from the student's Date of Determination (DOD). Withdrawal Types (also refer to the Status Definitions chapter: Enrollment Statuses (Sub Types). Official Withdrawal Unofficial Withdrawal Administrative Withdrawal Deceased Notes: The default trigger time frame for all withdrawal types will be 0 days if no configuration is defined. Any changes that effect the trigger time frame that are received before the R2T4 calculation is triggered, do not change the scheduled calculation. For example, if the student's DOD is changed within the time period that an R2T4 calculation is scheduled, the calculation will still be triggered on the day it was originally intended.
Pending R2T4 SAFI	The R2T4 calculation is ready to be calculated and Student Financial Planning has requested an R2T4 SAFI (in other words, the ReturnToTitleIvSafiIndicator is true). Student Financial Planning will wait until the new SAFI is received, and will allow any repackaging prior to doing the R2T4 calculation.
Pending Valid ISIR Process	If the status of an active award year ISIR associated to the term or payment period is Pending, Student Financial Planning will wait for the open Valid ISIR process to be completed before triggering the R2T4.
Pending Packaging Process	If the Academic Year Packaging status for the term or payment period being assessed is Pending Repackage, Student Financial Planning waits until the packaging or repackaging process is completed before doing the R2T4.
Pending Ledger Date Reconciliation	If the Ledger Posting Date in the Student Resource Element of the latest SAFI does not equal the disbursement date for the matching payment ID or have all the payment IDs, Student Financial Planning waits until a new SAFI is received and completes the reconciliation prior to doing the R2T4.
Pending Override Completion	If there is an R2T4 override that is still processing, the calculation will wait for it to be completed before doing the R2T4 calculation.

Note: Student Financial Planning triggers the R2T4 calculation 30 days from the Date of Determination, to ensure that the calculation is run within the required time frame set by the Department of Education (for example, 45 days to process return of funds to the Department of Education and 30 days to request authorization to make a post-withdrawal disbursement of Title IV loan funds). Student Financial Planning does consider the current state of the active ISIR, package and disbursements at this time. If the active ISIRs for the associated award years of the term or payment period being assessed for R2T4 are not in a status of Valid or Unverified, the system triggers a cancellation of all future disbursements that rely upon the active ISIRs. The R2T4 calculation persists based on the current state of anticipated disbursements that have been canceled (and/or have a cancellation reason set).

Determines time frame when calculation should be triggered

To remain compliant Student Financial Planning completes the R2T4 calculation within 30 days from the Date of Determination (DOD). However, Student Financial Planning will not trigger the R2T4 calculation until the configured time frame has elapsed based on configuration for the enrollment status sub-type within the Student Academic and Financial Information (SAFI) message.

Enrollment Statuses (Sub Type)

Status	Code	Description
Deceased	D	Student is deceased.
Official Withdraw	OW	Student has officially withdrawn from their program or term at this institution.
Unofficial Withdraw	UW	Student stopped attending all classes in their program or term at this institution but did not officially withdraw. Student did not re-enroll at this institution for the next regular (non-summer) term without completing the course of study.
Administrative Withdraw	AW	Student has been withdrawn due to a failure to pay tuition and fees.

Requests R2T4 Data to complete an R2T4 Calculation

When Student Financial Planning determines an R2T4 is required, the trigger time frame has elapsed (for example, 0 days for OW, 14 days for UW), and there is no pending processes or it has been 30 days from the DOD, Student Financial Planning sends an outbound message to notify the school the R2T4 is ready to be calculated and the institution needs to send the data that should be used to perform the R2T4 calculation via an (R2T4) SAFI message with a "Return to Title IV Indicator" set to true.

While Student Financial Planning is waiting for the R2T4 SAFI, the R2T4 process status is Pending. Once the R2T4 SAFI is received with the "Return to Title IV Indicator" set to true, Student Financial Planning repackages the student and continues the R2T4 process.

Determines what funds to include in R2T4 Calculation

Student Financial Planning determines what Title IV funds to designate as Disbursed or Could Have Been Disbursed (CHBD). Student Financial Planning also determines if funds have been packaged or disbursed on the student's record and if the student is eligible for those funds. If the student isn't eligible, the funds are returned.

The CHBD criteria within the R2T4 calculation includes any disbursement where the cancellation reason is set to a value (for example, Fund Not Accepted) but isn't canceled with COD. Only canceled disbursements that have been accepted by COD are excluded from CHBD criteria.

The system considers any loan funds that have a COD origination request prior to or equal to the OLDA, whether or not there was a positive acceptance received from COD.

To provide additional flexibility, the system default criteria is set to use the origination request date, but a configurable option is available to allow institutions to make this requirement more strict, and alternatively rely on the COD acceptance to determine eligible loan funds.

Determines the Term or Payment Period Dates for R2T4 Calculation

Student Financial Planning determines the number of days completed up to the OLDA and the number of days in the entire term or payment period being evaluated. To maintain an accurate count, Student Financial Planning excludes breaks (for example, Institutional Breaks, Leave of Absence, Unapproved Breaks, and so on.) from the R2T4 calculation.

Determines the Percentage of Aid Earned

Student Financial Planning determines the percentage of Title IV earned in the payment period using the following equations:

Completed Days Minus Breaks
Calendar Days Minus Breaks
Percentage of PP Completed

If the answer is equal to 60.01 or greater, update Box H to 100% otherwise show the actual percentage returned for Percentage of Completed Days Minus Breaks ÷ by Calendar Days Minus Breaks.

Break Exclusions

R2T4 calculations exclude breaks (based on configuration) when a student takes an unapproved break during the middle of a course. The days between the withdrawn courses Last Date of Attendance (LDA) and the day prior to the Start Date of the next course the student is enrolled to attend are counted as a break, and are excluded from the total completed and total calendar days in Step 2 of the R2T4 calculation. When breaks overlap one another Student Financial Planning will calculate and displays the breaks according to institutional Policy configuration (for example, when a Leave of Absence (LOA) occurs within course start/end dates and overlaps an Unapproved Course Break, the R2T4 calculation only counts and displays the LOA).

Types of Breaks

Acronym	Break Type	System Calculated or LOA Message	Details
ISB	INSTITUTIONALLY SCHEDULED BREAKS	Contained in the LOA Message	Based on institutional policy
LOA	LEAVE OF ABSENCES	Contained in the LOA Message	Based on institutional policy
IWC	INCLEMENT WEATHER CONDITIONS	Contained in the LOA Message	Based on institutional policy
AE	ADMINISTRATIVE EXCEPTIONS	Contained in the LOA Message	Based on institutional policy
BBC	BREAKS BETWEEN COURSES	Calculated by Student Financial Planning	When a break is >= 5 days between courses
URB	UNAPPROVED REENTRY BREAK	Calculated by Student Financial Planning	When a student withdraws from their Program and then re-enters within 180 days. The URB begins the day after the LDA of the withdrawn course and ends the day prior to the Start Date of the course they are re-entering.
UCB*	UNAPPROVED COURSE BREAK	Calculated by Student Financial Planning	When a student withdraws from a course, not their Program. The UCB begins the day after the LDA of the withdrawn course and ends the day prior to the Start Date of the next enrolled course.

*Student Financial Planning no longer excludes this break from the R2T4 Calculation. Calculations completed before the update will still reflect this break type in Step 2 of the calculation.

Determines if Student is Eligible for a Post-Withdrawal Disbursement

Student Financial Planning determines whether the student is eligible for a Post Withdrawal Disbursement (PWD).

Determines Institutional Charges

Student Financial Planning determines what the actual and estimated charges are for the term or payment period and which institutional charges to include in the R2T4 calculation.

Determines the Refund of Title IV by the school

Student Financial Planning determines what amount needs to be refunded by the institution. To decrease the disbursement amounts, Student Financial Planning begins the Reduction of Funds process and sends a notification to COD and returns excess funds through the G5 process once the R2T4 calculation is complete.

If a refund is required, a student notification is sent out after the R2T4 calculation is complete.

Determines the Refund of Title IV by the student

Student Financial Planning determines what amount needs to be refunded by the student and notifies the student upon completion of the R2T4 calculation.

Determines if a Grant Overpayment Exists

Student Financial Planning determines if a Grant Overpayment exists and reports funds appropriately. Student Financial Planning does not consider Pell, FSEOG, TEACH and IASG an overpayment if the amount is less than $50. For amounts over $50, Student Financial Planning initiates the Grant Overpayment process.

Cancels Future Disbursements

Student Financial Planning cancels any ineligible un-disbursed Title IV funds for program withdrawals once the R2T4 calculation is complete so that future disbursements are no longer processed.

Sends an Alert when a Course Overlaps with the Term or Payment Period End Date

If a student withdraws in the first term or payment period and there is a course that overlaps the Term or Payment Period End Date, Student Financial Planning alerts the user to manually review the R2T4 calculation.

Prevents Repackaging Post R2T4 Post Withdrawal or Graduation

This system only allows certain types of repackages to be processed after an R2T4 Program Withdrawal is completed or after a student has Graduated. The system prevents all automated forms of repackaging post R2T4/Graduation (for example, new SAFI received, new NSLDS file received, new Fund Acceptance received, and so on), however, the system allows repackaging to occur if triggered by the following manual overrides:

Manual Fund Overrides.
Manually Overriding of Cost of Attendance.
Selecting the At Will Repackaging button from the Packaging UI.
Updating the Borrower Default Overpay Code.
Manually Overriding the Student's Academic Years.
Modifying or Creating a Non Federal Fund via the Non Federal Fund UI.

Configurable Attributes

Configure withdrawal types

You can configure the different withdrawal types.

Enrollment Statuses (Sub Type)

Status	Code	Description
Deceased	D	Student is deceased.
Official Withdraw	OW	Student has officially withdrawn from their term or program at this institution.
Unofficial Withdraw	UW	Student stopped attending their term or program at this institution but did not officially withdraw. Student did not re-enroll at this institution for the next regular (non-summer) term without completing the course of study.
Administrative Withdraw	AW	Student has been administratively withdrawn due to a failure to pay tuition and fees.

Configure the R2T4 calculation trigger time frame

You can configure when an R2T4 calculation should be triggered, based on withdrawal type. The configured delay is the time frame the R2T4 calculation is delayed. These values may vary based on withdrawal type, state regulations, or other school defined configuration settings.

Example Trigger time frames:

Official Withdraw - 0 Days
- Triggers immediately once the withdraw SAFI is received
Unofficial Withdrawal - 14 Days
- Calculation is delayed for 14 days and is triggered on the 15th day

Configure the notification for R2T4 refund messaging

You can configure the message the student/borrower receives when a return is required.

Configure the R2T4 institutional charge types

You can configure charge types to be used to determine institutional charges used in the R2T4 calculation.

Charge Type Examples:

Tuition
Student Resources
Taxes
Miscellaneous
Resource

Configure deadline for R2T4 calculation

You can configure the R2T4 calculation deadline (for example, 45 days from the Date of Determination).

Configure Could Have Been Disbursed (CHBD) Eligibility Criteria

You can configure additional criteria that should be evaluated when determining if a fund meets CHBD eligibility.

Configure R2T4 cancellation criteria

You can configure when the R2T4 should be canceled and updated to Not Required based the school's policy.

Configure R2T4 CHBD Criteria

You can configure the system to use the COD Request Date or the COD Acceptance Date to determine if loan funds should be included in the CHBD field

Navigation to the Student Financial Planning User Interface Functionality

To view the R2T4 calculation Student Financial Planning User Interface > Student > Financial Information > R2T4 Information