Institutional Refunds and Return of Title IV Funds
A statutory schedule is used to determine the amount of Title IV funds you have earned as of the date you cease attendance officially or unofficially. Return of Title IV program assistance earned is based on the amount of time you spent in academic attendance; it has no relationship to your incurred institutional charges. The order of return of unearned funds no longer includes funds from sources other than the Title IV programs. Up through the 60% point of the enrollment period a pro rata scheduled is used to determine the amount of Title IV funds you have earned at the time of withdrawal. After the 60% in the payment period or periods of enrollment, you have earned 100% of the Title IV funds.
Withdrawals
The institution will use the following definition of withdrawal date:
A. Official withdrawal is the date you notify the school of your intent to withdraw or the date
of withdrawal you specify, whichever is later.
A. Unofficial withdrawal is the date of recorded attendance as documented by the institution. If
no withdrawal date is documented, the institution will use the 50% point in the semester
as the withdrawal date.
Repayment
A. Reports are generated regularly throughout the semester to identify students who have withdrawn. The R2T4 calculation is then performed.
B. Student Repayment - If the R2T4 calculation determines you owe a repayment, you will be notified by mail and/or telephone of your repayment status. You will be informed that you may make full payment of your refund amount to the institution or you can establish a payment plan with the Department of Education (DOE). Crafton does not accept partial payments. You will submit payment in full to the DOE through a separate batch file.
Payments will be applied to Pell first and SEOG (if applicable) second.
C. Post-withdrawal Disbursement - If the R2T4 calculation determines that you are
eligible for Title IV funds, a disbursement will be generated based on the calculated
amount.
D. A report is generated at the end of each semester to identify students who received all F’s and W’s to determine if R2T4 is required.
R2T4 Institutional Refunds
If the R2T4 calculation determines there is an institutional refund, your award will be revised to reflect the decrease in Title IV funds and a separate Pell payment batch will be submitted to the DOE.
Institutional Refunds of Tuition and Fees
The Office of Admissions and Records will compute and approve the amount of refund due to you according to the institutional refund schedule.
Consumer Information
R2T4 regulations are disclosed to students through tracking and award letter and various publications (i.e. student viewbook, catalogs, Web, etc.).
