Return of Title 4 Funds:
Step #1. An R2T4 calculation will be performed on all Title 4 recipients who completely withdraw or quits attending all classes before the end of the semester, including students whose attendance is greater than 60% of the payment period and students who complete a semester with only unearned grades of F.*
Step #2. Each R2T4 calculation is done by completing the (Treatment Of Title IV Funds When A Student Withdraws From A Credit-Hour Program) work-sheet.
Step #3. If the R2T4 calculation determines that funds are to be returned, the funds will be returned to the appropriate source within 3 days.
Step #4. The student will be promptly notified by email of the results of R2T4 and a copy of the R2T4 Work-Sheet will be mailed to the student.
Step #5. If the R2T4 calculation determines that the student is eligible for a Post-Withdrawal Disbursement, the Post-Withdrawal Disbursement Tracking Sheet will be used to determine the amount of the PW Disbursement that will be paid on the student’s account balance, and the amount that will be paid directly to the student.
Step #6. If all or part of the PW Disbursement is composed of loan funds, the student will be notified in writing. The notification will advise her of her responsibility to repay the loan funds if she chooses to accept them. The notification will explain what portion of the loan funds would be paid to her account balance and how much would be paid directly to her. The notification will also advise her that in order to receive the loan funds, she must notify the CRC Financial Aid Office, in writing that she still wants the funds. She will be advised that she can accept all, none, or any portion of the loan funds she is eligible to receive. She will also be advised of the last day (24 days from date the notice letter was mailed) to accept the funds, and the funds may not be available if accepted after that date.
Step #7. CRC cannot credit to the student’s account or disburse to the student directly, any loan funds, until the FA Office has received written confirmation from the student that they still want the funds. If the student’s only grades at the end of a semester are F’s, the appropriate teachers will be contacted and required to provide written confirmation as to whether or not the F or F’s were earned. If none of the F’s were earned, R2T4 calculations will be performed.