Martinsburg College Return of Title IV Funds (R2T4) Policy
Martinsburg College follows the requirements for the Return of Title IV Aid as outlined in the FSA Handbook 2016-17 and any additional requirements that are listed in the subsequent FSA Handbooks. The college utilizes worksheets available from the Department of Education at www.ifap.ed.gov/ifap/wst.jsp
Martinsburg College utilizes the Department’s Return of Title IV Funds’ web product available on the CPS Online website.
The first step in the Return of Title IV Aid calculation is to determine the percentage of the enrollment period the student participated (attended) before withdrawing from his/her program. For Title IV purposes, the last date of attendance is the last documented date of participation in an academically related activity (i.e., documented participation in an online classroom, submission of an assignment in a distance learning course, participation in an instructor-student conference, examination, interactive tutorial, or computer-assisted instruction). If a student attends through 60 percent of the enrollment period, all Title IV aid is considered earned. The following steps will be followed to determine the amount of Title IV aid to be returned:
Step 1: Determine the student’s Title IV aid information, which includes the amount of Title IV disbursed and the amount of Title IV aid that could have been disbursed.
Step 2: Determine the percentage of Title IV aid earned by the student by dividing the calendar days completed in the enrollment period by the total calendar days in the enrollment period.
Step 3: Calculate the amount of Title IV aid earned by multiplying the percentage of Title IV earned by the total Title IV disbursed or that could have been disbursed for the period.
Step 4: Determine the amount of Title IV aid to be disbursed or returned by subtracting the amount of Title IV aid earned by the student from the Total Title IV aid disbursed for the period.
Step 5: Determine the amount of Unearned Title IV due from the school by comparing the amount of Title IV Aid to be returned to the amount of unearned charges.
Step 6: Determine the Return of Funds by the School. The school must return the unearned Title IV aid for which the school is responsible by repaying funds to the following sources, in order:
- Pell Grant
Step 7: Calculate the Unearned Title IV aid due from the student by subtracting the amount the school needs to return from the Total Amount of Title IV aid to be returned.
Step 8: Determine if there are Unearned Grant Funds that must be returned to the Pell Grant Program by the student.