I have learned that DOD is very important and cannot be overlooked when completing a R2TIV
How to return Title IV funds after exit of student
I learned that in order to be considered attending in a virtual setting, the student must participate in the class such as contributing in an online discussion or initiating contact with a teacher to ask a course-related question.
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Learned more on the abbreviations!
Very interesting, informative and helpful.
Thank you it was helpful.
In this module, I learned about the importance of exit counseling. This information is provided to help students understand their responsibility now that they have received their loans and the timeline for repayment is set to begin.
In this Module i have learned to identify the requirements and procedures necessary to obtain the funds awarded to their students, as well as the COD and calculate the return on Title IV funds.
I was aware of all this information including the new process for schools who have classes in modules as well. Something I learned at my last institution a year ago.
I have learned an overview of the R2T4 process
I now see that the financial aid process involves several of steps, rules, and regulations. I now see why the process can take a while, especially if thousands of individuals are applying for it. The status of getting accepted, rejected or having errors can take time.
I have learned the importance of an exit counseling; however, I was unaware that I can mail it out to a withdraw student. I will definitely start doing that.
I was unaware that Exit Counseling must be conducted for outside loans, there is a process for distribution of funds to a school to be giving to the students, all steps of the process must be followed, there is a new R2T4 process related to programs taught in modules, and Making sure that all deadlines are met when it comes to reporting, processing, and returning of funds is one of the most important roles that a Finacial Aid Manager must monitor to stay in compliance.
I learned that the business offices including AR and AP must be all in close contact with FA to ensure all parties understand the rules and regulations concerning TIV credit balances and withdrawals.
Good refresher, very important for any drops/ withdraws.
