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Navigating R2T4

Navigating R2T4. MASFAA November 16, 2006 Allene Begley Curto, Springfield College Thomas Threlkeld, US ED. Navigation Tools for Return of Federal Aid. When we are required to return federal aid When we are required to offer federal aid not yet disbursed

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Navigating R2T4

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  1. Navigating R2T4 MASFAA November 16, 2006 Allene Begley Curto, Springfield College Thomas Threlkeld, US ED

  2. Navigation Tools for Return of Federal Aid • When we are requiredto return federal aid • When we are requiredto offer federal aid not yet disbursed • How a student earns federal aid based on attendance • How we know when a student has begun or has withdrawn (officially or unofficially) • What has changed with HERA

  3. The Basic Concepts behind the Requirements… • If you never began attending, you are not eligible for federal aid • If you began but did not complete the term, you may not be eligible for all of the aid that you received • If you began but did not complete the term, you may still be eligible for some of the aid that you did not yet receive • US ED requires the school to know if a student began attendance and whether they completed the term

  4. We are requiredto return federal aid… • If a student began attendance, but withdrew before completing 60% of the term • If a student failed to pass any course in a term and the school can not document that the student completed at least 60% of the term

  5. We are required to offera post-withdrawal disbursement.... • If a student began attendance, did not complete the term, but has earned aid which has not yet been disbursed, and • The student meets the requirements for a late disbursement

  6. What Aid has been earned? • Did they begin? • Did they complete? • If they began but didn’t complete, what percent of the term did they complete? • What do we know and when did we know it?

  7. Who Knows? Who Tells FAO? • How does the school know if a student began attendance in at least one course? • How does the school know if the student stopped attending? • Who reviews students who fail to pass at least one course in a term? • How is FAO notified on any and all of the above? • How is it documented by the school?

  8. Percentage Completed Days Attended divided by Days in the Term = Percentage completed Exclude scheduled breaks that are at least 5 consecutive days from both Days Attended and Days in the Term

  9. Nonterm Credit HoursClock Hours • Nonterm Credit Hour programs – Number of Credit hours expected to be completed in payment period divided by number of credit hours completed at withdrawal. • Clock Hours – Total number of clock hours scheduled to be completed at time of withdrawal divided by total clock hours in period

  10. HERA CHANGES • Effective for withdrawals that occurred on or after July 1, 2006 • Scheduled Clock Hours • Leaves of Absence • Grant Overpayments • Programs from which Funds are Returned • Return of Funds Timeline • Post-Withdrawal Disbursement Counseling

  11. HERA Changes -Clock Hours • Only scheduled hours are used, no longer any formula to determine whether it should be scheduled or completed • A student earns 100% of his or her aid if the student’s withdrawal date is after the point that he or she was scheduled to completed at least 60% of the scheduled hours in the payment period or period of enrollment

  12. HERA Changes –Leaves of Absence • US ED clarifies that an institution may grant more than one leave of absence to a student Other LOA rules remain • No more than 180 days total in any 12 month period • Must follow school’s written policy • School may not asses any additional charges • …and all other LOA requirements

  13. HERA Changes –Grant Overpayment • Limited to the amount by which the original grant overpayment is greater than half of the total Title IV grant funds received by student • A student does not have to repay a grant overpayment of $50 or less • No changes to the grant repayments required to be made by the school

  14. HERA Changes – Programs from which Funds are Returned • Pell Grant, SEOG, FFEL, Federal Direct Loan, Federal Perkins Loan, ACG, SMART • No longer applies to LEAP, SLEAP, GEAR UP and SSS • No change to the exclusion of FWS

  15. HERA Changes –Post-Withdrawal Disbursement Counseling • School required to contact student prior to making a post-withdrawal disbursement of loan funds • Explain obligation to repay loan funds • Confirm loan funds still required by student • Document result of contact in file • Applies even if student owes balance to school

  16. HERA Changes – Return of Funds Timeline • Must return unearned funds within 45 days of the date that it determines that student ahs withdrawn (previously 30 days) • Note that date that school determines student has withdrawn is not the date that FAO became aware of the fact! • Note that return is required in 45 days, not just the calculation!

  17. Why we should know if a student began/completed the term… • Successful completion of the educational program is the goal • Enrollment retention requires knowledge of who is really here • Students need response/support/action if not attending or don’t register

  18. QUESTIONSANDANSWERS

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