Under the higher education amendment regulation called Return of Title IV Funds (RTIVF), all students receiving Title IV federal grant or loan assistance who withdraw from the institution in the first 60% of the term are subject to the Return of Title IV Fund policy. This regulation affects the calculation of aid to be returned as well as repayment procedures.
The percentage of aid earned by a Title IV student is determined by calculating the percentage of the period that the student completed. If the student completes up to 60% of the term, the percentage of aid earned equals the percentage of the completed period. If the student completes 60.01% or more, the student earns 100% of aid.
The amount of Federal Title IV aid that students must return when they withdraw from school is not associated with your institution’s refund policy. Refund policy is defined by your institution, whereas Return of Title IV Fund is defined by law.
Upon completion of this lesson, you will be able to:
• Calculate the return of Title IV aid.
• Track return of Title IV funds.
• Review post-withdrawal disbursement.
• Review return of Title IV funds summary.
• Generate return of Title IV funds withdrawal report.
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