Great Information
The refund calculation information was great from working in the Financial Aid office it gave me a better idea of what happens in the Business Office when a student withdraws.
Eugenia,
Processing an R2T4 calculation for a withdrawn student can be a tricky process because you want to ensure the student is being given the correct information regarding any balance owed either to the school or Title IV. The more you are able to observe the more you learn about the complete process.
regards,
David McGuffee
I remember the R2T4 process took me a long time to learn. Sometimes I would get it, forget it or make mistakes on accident. Eventually I understood it and now it is like second nature to me.
Samuel,
The process can be overwhelming when you are first introduced to it; however, it appears that you have mastered the process. There is a great deal of information available through NASFAA and Department of Education to assist in this process
Chyrl Ayers
The title IV refund process really helped clarify the process of what happens when students stop attending and withdraw.
Melissa,
That is an interesting statement. Most FA Administrators were not excited with the change to the RT4 process; however, I definitely see your point of view. I have found that the overall process has been simplified through RT4.
Best wishes in your continued success in FA administration and your pursuit of online FA knowledge.
Chyrl Ayers
Our FA director is responsible for all R2T4 calculations at our school and by the sounds of it, I am very grateful. However, it seems there are a few advantages to knowing how to calculate R2T4 funds. It wouldn't be a bad idea to learn the process at some point in time.
Jessica,
Agree. I encourage all to have a well-rounded understanding of all financial aid processes from enrollment requirements through reporting and reconciliation of federal student aid. It is wise to be prepared to advise students on all processes and requirements of their educational experience. Unfortunately, the withdrawal process is a part of some students' experience and it is good to know how to advise the student on the results of their decision.
Sincerely,
Chyrl Ayers
We used to handle this process at the campus level however now this process is handled at the Corporate level.
Aarika,
Do you feel that it is more successful at a corporate level? Are there any aspects that you felt were better at the campus level?
Sincerely
Chyrl Ayers
