Get Your Students Hired
Discuss the impact that Return of Title IV funds have had on colleges since its implementation.
Karen,
All good points related to R2T4 and the need for timely/accurately process of the change in status through return of funds.
Sincerely, Chyrl
Chyrl Ayers
I believe that the implementation of the R2T4 has been a great tool. It allows better understanding of what has to be returned and why for the students to be able to understand. Also it keeps all departments on campus on their toes when they know there are limited days that we can use to get the student withdrawn and funds returned if necessary.
MARIE D. ,
Once again your feedback is valued. You are correct students need to know their value and our willingness to put their needs above our own. It is important to try and reach each student to ensure their understanding of the exit process from Return of TIV Calculation to rights and responsibilities under the loan programs.
Sincerely, Chyrl
Chyrl Ayers
The exit counseling is a great format. I would suggest that you sent out an email if time permit and see if you get an answer just to set an appointment. sometimes student like to know the financial office do care about them.
Bryan, I agree with your statement that the R2T4 process can be complicated for finance professionals and students to understand. However, when a student has no choice but to withdraw due to unforseen circumstances it is good, as you say, that the calculation allows the amount retained to be in line with the length of time in class.
Regards,
David McGuffee
The return to title iv process is quite complicated and challenging for both new finance professionals and students to understand. That being said, once an understanding has been reached, it is a fair calculation because it matches the charges and funding earned to the amount of time the student spent in school. This way students only pay for tuition and earn title iv based on the length of time they participated in their classes.
Shawn,
I completely agree that having a personal exit interview is the best method; however, it is critical to have a plan for those students who do not allow you that opportunity. How do you work with students that disappear? Do you mail their exit counseling, try to set up an appointment to return for the in person counseling?
Sincerely,
Chyrl Ayers
Personal onterviews allows the student to ask questions and understand their accountability for their Fin Aid.
Shawn,
How do you ensure that students understand their accountability? Do you accomplish this through counseling, personal interviews, etc? I am sure all of the participants recognize the importance of making students accountable and would appreciate your techniques.
Sincerely,
Chyrl Ayers
I feel that the Return of Title IV allows colleges to elimate overpayments to stuents and makes student more accountable for funds they have to repay.
Brittany,
Interesting perspective since I think most find the return of TIV process to be complicated and labor intensive; however, I see your point of view as stated. It is important to ensure that your students have all of the information prior to withdrawing and anything that keeps them in school through graduation is extremely important. However, when a student has not choice but to withdraw due to unforeseen circumstances it is good that the calculation allows the amount retained to be in line with the length of time in class.
Sincerely,
Chyrl Ayers
I believe the R2T4 process has had a positive impact on our students. The pro-rated exit calculations allowing Pell to be applied first to any earned tuition charges lessens the financial implications of withdrawing.
lori, Good team-work is very important to ensure the students that have withdrawn from school either officially or unofficially are processed out in a timely and accurate manner. Since there are time-frame requirements regarding the processing out of a withdrawn student, teamwork and the tracking of students is key. Good luck in your continued online education.
Regards,
David McGuffee
It is so important ot have a system in place so that FA is notified of all drop students in a timely manner. We make sure to communicate with Education and Registrar to track students progression through school. We have reports that let us know if students have been absent for several days. Teamwork is key between key departments because students can fall throught he cracks if not monitored continuously.
Athena,
An implementation of RT4 is not difficult and rarely have I experienced conflicts between the various department since we are all working for the success of the studnet. The most difficult part is ensuring that all of the procedures are followed to ensure compliance.
Sincerely, Chyrl
Since the R2T4 refund calc is stringent/detailed, I was wondering if there were conflicts b/w admissions, business, and FA office in enforcing this rule? Was the implentation timeframe long & difficult?
My school is brand new to Financial Aid and we have not yet done a Return of Title IV funds. It seems that this has a major impact on your school as we discovered in the acreditation process, this is one of the areas that the Deparmtent of Education is very strict about.
Ava,
Why do you feel that RT4 is an important tool in determining a college's eligibility for federal funds? Do you feel that a college's ability to manage this process is more important than other areas of college administration?
Thanks, Chyrl