Session 22. A Hands-On Tour of Return of Title IV Funds (R2T4) on the Web. Dan Klock, U.S. Department of Education Derek Kalm, Vangent, Inc. Agenda. A Brief History of Return of Title IV Funds (R2T4) What is R2T4 on the Web? Accessing R2T4 on the Web R2T4 on the Web functionality
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
Session 22 A Hands-On Tour of Return of Title IV Funds (R2T4) on the Web Dan Klock, U.S. Department of Education Derek Kalm, Vangent, Inc.
Agenda • A Brief History of Return of Title IV Funds (R2T4) • What is R2T4 on the Web? • Accessing R2T4 on the Web • R2T4 on the Web functionality • Hands-on Exercises
A Brief History of R2T4 • Simply stated: If a recipient of Title IV aid withdraws during a payment period or a period of enrollment, the institution must calculate the amount of Title IV aid the student earned. Unearned Title IV funds must be returned to the Title IV programs.
A Brief History of R2T4 • Prior to 1999/2000 called “Refunds and Repayments” (refund of unearned institutional charges) • Effective July 1, 2000, the 1998 Reauthorization of the HEA and Negotiated Rule Making changed this regulation to “the Treatment of Title IV, HEA program funds when a student withdraws from an institution”, AKA “Return to Title IV Funds”
A Brief History of R2T4 • R2T4 PC Software became available on April 25, 2000 • R2T4 on the Web was released on September 14, 2004 • R2T4 on the Web with HERA updates became available on August 7, 2006
What is R2T4 on the Web? • Web-based software that calculates and manages the return of Title IV funds • Available through FAA Access to CPS Online • Must be enrolled on SAIG Enrollment web site (https://www.fsawebenroll.ed.gov/)
The HERA of 2005 • Last year, The Higher Education Reconciliation Act (HERA) of 2005 (effective July 1, 2006) changed some steps in the Return of Title IV Funds calculation • Do not use the R2T4 PC software for students who withdrew on or after July 1, 2006.
Accessing R2T4 on the Web • Access through FAA Access to CPS Online • http://www.fafsa.ed.gov/FOTWWebApp/faa/faa.jsp • “Confirming Your Identity” (SSN, Last Name, DOB, PIN) • FAA Main Menu – Select the “Return of Title IV Funds on the Web” option • Enter TG# and Federal School Code
Functions – Home/Welcome Page • Top Navigation • Left Navigation • Help links • Bottom Navigation
Functions – Setup Screens • Institutional Charges • School Calendar Profile • User-Specified Fields
Functions –R2T4 Record • Create New Record • Find Existing Record
Functions – Status Screens • Student Notification • Student Repayment Arrangements (2) • School Portion of Title IV Funds (2) • Students with a Post-withdrawal Disbursement • Student Records Referred to Dept. of Education
Functions – Reports • Student Listing • Student Notification • Student Repayment Arrangements • School Portion of R2T4 Returned • Students With a Post-Withdrawal Disbursement • Student Records Referred to Dept. of Education
Functions – Data Export • Comma-delimited text file • Browse Data
Technical Assistance We appreciate your feedback and comments. CPS/SAIG Technical Support can be reached at: • Phone: 800-330-5947 • Fax: 319-665-7662 • Email: CPSSAIG@ed.gov
Questions and Comments • Need more information while at the conference? • Attend Session #25: Return of Title IV Aid: Problem Areas and Compliance Issues • Come to the PC lab for assistance.