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Session C-01

Session C-01. A Hands-on Tour of Return of Title IV Funds (R2T4) on the Web. Marya Dennis Dan Klock U.S. Department of Education Derek Kalm Vangent, Inc. Agenda. A brief history of return of Title IV funds (R2T4) What is R2T4 on the Web? Accessing R2T4 on the Web

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Session C-01

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  1. Session C-01 A Hands-on Tour of Return of Title IV Funds (R2T4) on the Web Marya Dennis Dan Klock U.S. Department of Education Derek Kalm Vangent, Inc.

  2. Agenda • A brief history of return of Title IV funds (R2T4) • What is R2T4 on the Web? • Accessing R2T4 on the Web • R2T4 on the Web functionality • Hands-on exercises

  3. A Brief History of R2T4 Simply stated: If a recipient of Title IV aid withdraws during a payment period or a period of enrollment, the institution must calculate the amount of Title IV aid the student earned.  Unearned Title IV funds must be returned to the Title IV programs.

  4. A Brief History of R2T4 • Prior to 1999/2000 called “Refunds and Repayments” (refund of unearned institutional charges) • Effective July 1, 2000, the 1998 Reauthorization of the HEA and Negotiated Rule Making changed this regulation to “the Treatment of Title IV, HEA program funds when a student withdraws from an institution”, AKA “Return to Title IV Funds”

  5. A Brief History of R2T4 • April 25, 2000: R2T4 PC Software became available • September 14, 2004: R2T4 on the Web was released • August 7, 2006: HERA update • July 27, 2008: CCRAA update • Sept. 28, 2008: Non-CCRAA update

  6. What is R2T4 on the Web? • Web-based software that calculates and manages the return of Title IV funds • Available through FAA Access to CPS Online • Must be enrolled on SAIG Enrollment web site https://www.fsawebenroll.ed.gov/

  7. R2T4 Regulatory Changes • The Higher Education Reconciliation Act (HERA) of 2005 (effective July 1, 2006), and • The College Cost Reduction and Assistance Act (CCRAA) (effective July 1, 2008) • Changed some steps in the original Return of Title IV Funds calculation

  8. R2T4 Regulatory Changes • Use R2T4 on the Web to calculate all Withdrawal Dates • Do not use the R2T4 PC software for students who withdrew on or after July 1, 2006

  9. Accessing R2T4 on the Web • Access through FAA Access to CPS Online • http://www.fafsa.ed.gov/FOTWWebApp/faa/faa.jsp • “Confirming Your Identity” (SSN, Last Name, DOB, PIN) • FAA Main Menu – Select the “Return of Title IV Funds on the Web” option • Enter TG# and Federal School Code

  10. R2T4 on the WebFunctionality

  11. Functions – Home/Welcome Page • Top navigation • Left navigation • Help links • Bottom navigation

  12. Functions – Setup Screens • Institutional charges • School calendar profile • User-specified fields

  13. Functions – R2T4 Record • Create new record • Find existing record - Demographic screen - Create R2T4 record Title IV programs Calculation - Create post-withdraw disbursement Record - Notes tab

  14. Functions – Status Screens • Student notification • Student repayment arrangements (2) • School portion of title IV funds (2) • Students with a post-withdrawal disbursement • Student records referred to Dept. of Education

  15. Functions – Reports • Student listing • Student notification • Student repayment arrangements • School portion of R2T4 returned • Students with a post-withdrawal disbursement • Student records referred to Dept. of Education

  16. Functions – Data Export • Comma-delimited text file • Browse data

  17. We appreciate your feedback and comments. CPS/SAIG Technical Support can be reached at: Phone: 800-330-5947 Fax: 319-665-7662 Email: CPSSAIG@ed.gov Technical Assistance

  18. Questions and Comments • Need more information while at the conference? • Attend session C-25: R2T4 Compliance Issues • Come to the PC lab for assistance

  19. Hands-on Exercises

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