The Texarkana College Financial Aid office will perform a Return of Title IV (R2T4) funds calculation for any student who is withdrawn and has received Title IV aid. A student is considered to be “withdrawn” if they fail to complete any classes in the last chronologically scheduled subterm (module) on their class schedule and earn only grades of W or WF. Because a grade of “F” is considered “earned” – i.e., the student failed to master the material but never ceased attendance – it is not considered a withdrawal for R2T4 purposes. A “WF” is assigned when a student ceases attendance and fails their course, and it is considered a withdrawal for R2T4 purposes. A “W” is a student-initiated withdrawal and is always considered a withdrawal for R2T4 purposes.
Texarkana College follows the guidelines of the Federal Refund policy for a student who has received Federal financial aid funds (other than Federal Work-Study) and who has withdrawn on or after the first day of class. A portion of the student’s award may need to be returned to the Title IV programs and/or the student may need to repay a portion of the award funds received. Return of unearned aid must be distributed according to a specific order of priority mandated in the law and regulations.
The repayment to the various programs will be in the following priority:
Unsubsidized Loans
Subsidized Loans
Pell Grant
Federal Supplemental Educational Opportunity Grants
Other Title IV programs, institutional funds, outside agency funds, and student funds
If a student receiving Federal Title IV Aid withdraws after completing 60% of their scheduled class days, the student is considered to have earned 100% of the Title IV Aid and therefore no funds are returned. A calculation will still be performed to determine if the student is eligible for a post-withdrawal disbursement. Other conditions also exist that may waive the requirement to return funds, such as if the student completed 6 credit hours prior to withdrawal or if they completed a module or combination of modules that comprised at least 49% of their scheduled class days. These exemptions will be considered and applied where possible.
A calculation will still be performed to determine if the student is eligible for a post-withdrawal disbursement. Texarkana College does not accept late responses in regard to post-withdrawal disbursements.
R2T4 calculations are to be performed by the Financial Aid office once notification has been given that the student has totally withdrawn. Texarkana College will return any funds required by the R2T4 calculation to the Department of Education via the Common Origination and Disbursement System within 45 days of the date that the college determined that the student withdrew.
When a student formally withdraws, the withdrawal date is defined as the “Date of school’s determination that the student withdrew”. For students who withdraw without providing notification (i.e. cease attendance without formally withdrawing, later earning a grade of WF), the college will determine their withdrawal no later than 30 days after the end of the earlier of (1) the payment period or the period of enrollment (as applicable), (2) the academic year, or (3) the student’s educational program, in accordance with federal regulations.
Copies of the R2T4 calculation are available upon request in the Financial Aid Office.
Texarkana College is considered an institution not required to take attendance and therefore adheres to guidelines pertaining to such schools in the federal regulations. Where no last date of attendance is reported for a class in which a student receives a grade of WF, 50% completion may be assumed for that class.
Texarkana College notifies all R2T4 students if a return of funds to the Department of Education has been made by email. The email includes the funds and amount(s) of the return.
Returns of funds connected to the R2T4 process could result in the student owing a balance to Texarkana College.