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Policy 4012 - Financial Aid Return to Title IV Funds (R2T4)

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Western Dakota Tech Policy Number: 4012

I. Purpose

The U.S. Department of Education requires institutions to apply the Return to Title IV Funds policy for students withdrawing from a College who receive Title IV financial aid. The Title IV programs at Western Dakota Tech include: Federal Pell Grants, Direct Loans, Direct PLUS Loans, Federal Supplemental Educational Opportunity Grants (FSEOG) and Iraq and Afghanistan Service Grant.

II. General Statement of Policy

A student who withdraws after the 60% point of a semester is entitled to retain all Title IV aid for that semester. However, if the student withdraws prior to the 60% point of the term, unearned Title IV funds as determined by the federal policy must be returned to the various programs. These funds must be returned even if the College provides no refund to the student. This means the student could owe Western Dakota Tech (WDT) and/or the U.S. Department of Education a significant amount of money.

The requirements for return to Title IV program funds when you withdraw are separate from the WDT refund policy – Policy 6007 and Procedure 6007.001. Therefore, you may still owe funds to the school to cover unpaid institutional charges. Western Dakota Tech will charge the student for any Title IV program funds that Western Dakota Tech is required to return.

III. Definitions


IV. Reporting Procedures 


V. Dissemination of Policy and Training

A. This policy shall appear on the Western Dakota Tech website on the policy webpage and in the WDT Student Handbook.

Legal References

HEA Sec. 484(c); 34 CFR 668.16(e); 34 CFR 668.32(f); 34 CFR 668.34

Related Policies, Procedures, and Exhibits
4012.Exhibit.001 - Financial Aid Return to Title IV (R2T4)

Board Approved 10/15/2018

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