At the 2015 NASFAA National Conference in New Orleans, Department of Education (ED) staff presented an in-depth review of the return of Title IV funds (R2T4) and programs offered in modules. In addition to providing definitions, frequent Q&As, and examples, the session provided helpful reminders regarding the deadlines associated with R2T4.
Although the regulations do not specify a deadline by which schools must perform a return calculation, institutions must perform the calculation in a timely manner to ensure compliance with related deadlines. These deadlines are detailed below.
Within 30 days of its determination a student withdrew, a school must notify:
Within 45 days of its determination a student withdrew, an institution must:
Within 180 days of its determination a student withdrew, a school must make a post-withdrawal disbursement of:
Although schools are given a time frame of at least a month to complete the above actions, ED expects schools to complete them as soon as possible. To be in compliance, an institution should complete a return calculation within 30 days of its determination a student withdrew.
For highlights and summaries of key events and other sessions that were held at the 2015 National Conference in New Orleans, see our summaries page.
Publication Date: 8/4/2015