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Aid That Could Have Been Disbursed

Principles of Title IV - Aid That Could Have Been Disbursed

Mercy
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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

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