Return of Title IV Funds
NASFAA’s Professional Credentials provide financial aid administrators and professionals in related fields the opportunity to earn tangible recognition for mastery of content pertaining to federal Title IV aid administration. To earn this credential, candidates need to know how to handle a student’s Title IV funds when the student withdraws from school before completing the payment period or period of enrollment. Candidates need to know the basic requirements for the return of Title IV funds (R2T4), whether and when to apply the requirements, how to determine the student’s withdrawal date, how to calculate the return of funds for each Title IV program, all applicable deadlines, and the rules for making post-withdrawal disbursements. Holding this credential demonstrates the ability to protect the integrity of the Title IV programs by ensuring the school promptly returns federal funds for which a withdrawn student no longer qualifies.
Earning Criteria
Recipients must complete the earning criteria to earn this badge.
General Requirements
Financial aid professionals can qualify to sit for a test in at least one of the following ways:
- Complete an independent study on specific topics using a Self-Study Guide
- Take an instructor-led NASFAA U Online Course
- Demonstrate five or more years of well-rounded professional experience
- Attend a NASFAA U Authorized Event that uses the approved NASFAA curriculum
Assessment
The range of topics in this test include:
- General Concepts of Return of Title IV Funds
- Determining the Withdrawal Date
- Return of Title IV Funds Formula
- Post-Withdrawal Disbursements and Timeframes
Tests may include questions pertaining to a variety of program structures, such as credit- or clock-hour, term or nonterm, standard or nonstandard term, undergraduate or graduate/professional programs, and programs of various length (shorter than one year, two-year, four-year, certificate, etc.).
NASFAA Professional Credentials do not expire; however, credentialed professionals may renew each credential. NASFAA recommends renewing credentials every three years, barring any major regulatory changes. Renewal is not mandatory.
Learn more about NASFAA’s Professional Credentials.
