Return of Title IV Funds Policy
When a student receiving federal financial aid withdraws from all courses before completing 60% of the payment period, a Return of Title IV (R2T4) calculation is performed to determine how much aid the student has earned based on the percentage of the period completed.
Policy Details
Calculation Method
The percentage of aid earned is calculated by dividing the number of days attended by the total number of days in the payment period (excluding scheduled breaks of 5+ consecutive days). After 60% of the period, 100% of the aid is considered earned.
Return Order
Unearned funds are returned in the following order: Federal Direct Unsubsidized Loans, Federal Direct Subsidized Loans, Federal Perkins Loans, Federal Pell Grants, FSEOG, other Title IV assistance.
Student Responsibility
Students may owe a balance to CPU or to the federal government after the R2T4 calculation. The Financial Aid Office will notify students of any amounts owed.
Professional Judgement
The Financial Aid Director may exercise professional judgement on a case-by-case basis to adjust a student's financial aid eligibility due to special or unusual circumstances not reflected on the FAFSA, such as loss of income, unusual medical expenses, or other documented hardships.