Deciphering R2T4 2018 ILASFAA Annual Conference: Celebrating the superhero in all of us!

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Presentation transcript:

Deciphering R2T4 2018 ILASFAA Annual Conference: Celebrating the superhero in all of us!

Tim Marten St. John’s College of Nursing Timothy.marten@sjcs.edu (217) 814-4705

Plan of Action Introduction of R2T4 regulations Discuss Components of R2T4 Calculation Returning Title IV Aid Uncommon Situations Questions Plan of Action

Federal Regulations that require students to earn Title IV aid by maintaining appropriate enrollment status Requires institutions to return unearned portions of Title IV Aid Full R2T4 regulations can be found at: https://ifap.ed.gov/qahome/qaassessments/returntivfunds.html R2T4 Backstory

Do I have to Return Funds? Calculating Attendance Total Days in a semester Number of days student was enrolled Do not count breaks that are 5 days or longer Academic Calendar determines days Registrar assigns withdraw or drop date <60% Attendance requires repayment Do I have to Return Funds?

Sample academic calendar Fall 2017 Semester Classes Begin: August 14, 2017 Labor Day: September 4, 2017 Fall Break: Oct 9-Oct 13, 2017 Thanksgiving Break: Nov. 22–Nov. 24, 2017 Last Day of Class: Dec. 1, 2017 Finals Week: Dec. 4 - December 8, 2017 Sample academic calendar 103 Days 62 Days = 60%

Calculating How Much Title IV Aid to Return CPS Calculation: https://faaaccess.ed.gov/R2T4Web/R2T4Servlet Hand Calculation Worksheet: https://ifap.ed.gov/ifap/titleiv.jsp

What Aid Goes Back Firs Reverse Packaging Ideology Unsub Loans PLUS Loans Pell Grant ACG SMART FSEOG TEACH Grant Iraq/Afghanistan Service Grant

Alternate Universe: Bizzaro Student #1 Module Based Students What do you do? Full eligibility vs. As Earned? Timeframe for Loans Add/Drop Dates Communication with Registrar Academic Advisement?

Alternate Universe: Bizzaro Student #2 Campus Based and Additional Aid Students Do you return FSEOG or Work Study? Do you return and re-award? What about VA Benefits? What about ISAC MAP Grants? Do you council student on lost benefits? Conflicts between academic and financial decisions.

Riddle ME This Questions ???

Tim Marten St. John’s College of Nursing Timothy.marten@sjcs.edu (217) 814-4705