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Principles of Title IV - Aid That Could Have Been Disbursed
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1. 1 Principles of Title IV Aid That Could Have Been Disbursed Lesson 3
2. 2 Change first bullet to, Identify new fields and understand the use of Prior Year Import.Change first bullet to, Identify new fields and understand the use of Prior Year Import.
3. 3 Aid That Could Have Been Disbursed Conditions for Late Disbursement in 34 CFR 668.164(g)(2) must be met at time student withdrew
Include all undisbursed Title IV aid for period for which return calculation is performed
Include as Aid That Could Have Been Disbursed, even if disbursement was prohibited
4. 4 Effect of Aid That Could Have Been Disbursed Increases amount of aid earned
Decreases amount of aid to be returned
Eligibility for a post-withdrawal disbursement could increase
5. 5 Conditions for Late Disbursement
All Title IV Aid (Except PLUS)
Department processed a SAR or ISIR with an official EFC for student and
6. 6 Conditions for Late Disbursement (continued) FSEOG
institution made award to student
FFEL or Direct Loan
institution certified or originated the loan, as applicable; and
Federal Perkins Loan
institution made award to student
7. 7 30-Day Delayed Disbursement If first-year, first-time student withdraws before 30 days and
Meets late disbursement requirements
Net amount of loan can be used as Aid That Could Have Been Disbursed
No portion of the loan can be disbursed
8. 8 Return of Title IV Aid Verification Rules Schools must perform R2T4 calculation within 30 days of date of determination of withdrawal (PWD notification and confirmation)
Return interim disbursements
Include PLUS and unsubsidized loans in return calculation
Perform new R2T4 calculation if verification is completed later
9. 9 Determining Which Funds to Include If all required documents are received before R2T4 calculation, include:
Pell Grant, ACG, National SMART Grant, FSEOG, Perkins Loan, subsidized or unsubsidized Stafford Loans, and PLUS loans
If all required documents are not received before R2T4 calculation, include:
PLUS and unsubsidized Stafford Loans
10. 10 Determining Which Funds to Include (continued) If all required documents are received before verification deadline:
Perform new R2T4 calculation
Include: Pell Grant, ACG, National SMART Grant, FSEOG, Perkins Loan, subsidized and unsubsidized Stafford Loans, PLUS loans
11. 11 Inadvertent Overpayments & R2T4 School may hold an inadvertent overpayment while it determines if student is entitled to a post-withdrawal disbursement (PWD) under R2T4
Prevents returning funds needed later for PWD
If entitled to PWD, student may only receive earned portion of inadvertent overpayment
12. 12 Activity Individual Activities
Participant Workbook pages 3-8 to 3-10
13. R2T4 Slides Lesson 3.ppt Scenario 1:
What amount should be included in
Total aid disbursed? $______
Total aid that could have been disbursed? $__________
Scenario 2:
What amount should be included in
Total aid disbursed? $______
Total aid that could have been disbursed? $__________
14. 14 Scenario 1: 30-Day Delay Include $1000 loan as Aid That Could Have Been Disbursed
No portion can be released as PWD
All funds must be returned
30-day delay would have prohibited disbursement on withdrawal
15. 15 Scenario 2: No 30-Day Delay Include $1000 loan as Aid That Could Have Been Disbursed
If eligible, a portion can be released as PWD
Unearned portion must be returned
16. R2T4 Slides Lesson 3.ppt Scenario 3:
What amount should be included in
Total aid disbursed? $______
Total aid that could have been disbursed? $__________
Scenario 4:
What amount should be included in
Total aid disbursed? $______
Total aid that could have been disbursed? $__________
17. 17 Scenario 3: Late Disbursement Include 1st $990 as Aid That Was Disbursed
Include 2nd $990 as Aid That Could Have Been Disbursed
No PWD available
Could not have made disbursement because late disbursement criteria not met
18. 18 Scenario 4: Late Disbursement Include 1st $990 as Aid That Was Disbursed
Include 2nd $990 as Aid That Could Have Been Disbursed
Cannot disburse 2nd or subsequent disbursement as PWD because student did not complete enrollment period
19. R2T4 Slides Lesson 3.ppt Scenario 5:
What amount should be included in
Total aid disbursed? $______
Total aid that could have been disbursed? $__________
Scenario 6:
What amount should be included in
Total aid disbursed? $______
Total aid that could have been disbursed? $__________
20. 20 Scenario 5: Verification Completed Before Withdrawal School completes verification process
Perform R2T4 calculation
Include Pell, ACG, and FSEOG as Aid That Could Have Been Disbursed
21. 21 Scenario 6: Verification Not Completed Before Withdrawal Perform R2T4 calculation including the $4050 PLUS Loan as Aid That Was Disbursed
When student provides missing signature and qualifies for a Pell Grant and National SMART Grant, do a second R2T4 calculation, including the $550 Pell Grant and $2000 National SMART Grant as Aid That Could Have Been Disbursed
22. 22 Business Process Worksheet Review BPW Step 5
Determine Aid That Could Have Been Disbursed