Finances
Return of
Title IV Funds
Students who withdraw from TCR while receiving federal financial aid may be subject to a Return of Title IV Funds calculation. This policy outlines your rights and responsibilities when withdrawing.
Withdrawal Policy
Before 60% of termWithdrawing Before 60%
Federal regulations require TCR to calculate the amount of Title IV aid earned by students who withdraw before completing 60% of a payment period or term. The calculation is based on the percentage of the term completed at the time of withdrawal.
The official withdrawal date is determined by the date the student begins the withdrawal process, the student's last date of attendance, or the midpoint of the term for students who leave without notifying TCR.
Any unearned Title IV funds must be returned within 45 days of the date TCR determines the student has withdrawn. Students may owe a balance to TCR or the U.S. Department of Education as a result of this calculation.
Withdrawal Policy
After 60% of termWithdrawing After 60%
Students who complete more than 60% of a payment period or term are considered to have earned 100% of their Title IV aid. No funds are required to be returned in this case.
If a student withdraws after 60% and is eligible for a post-withdrawal disbursement, TCR will notify the student in writing within 30 days of the withdrawal date. The student may accept or decline all or part of the disbursement.
Post-withdrawal disbursements of Direct Loan funds require the student's written authorization. TCR will send a notification within 30 days, and the student must respond within 14 days to receive the funds.
How It Works
The Return of Title IV Calculation
The R2T4 calculation determines the percentage of Title IV aid earned based on the number of days completed in the payment period divided by the total days in the period. This percentage is then applied to the total aid disbursed or that could have been disbursed.
- The amount of Title IV aid earned by the student
- The amounts that must be returned by TCR and the student
- Any balance due to TCR or the Department of Education
If the amount disbursed exceeds the amount earned, the excess must be returned. TCR returns its share first, followed by the student's share. Students repay loan funds according to the terms of their promissory note.
Students who owe a grant overpayment of more than $50 become ineligible for additional federal financial aid until the overpayment is resolved with the U.S. Department of Education.
Return Order
Order of Title IV Fund Return
When Title IV funds must be returned, federal regulations require that funds are returned in a specific order. TCR follows this federally mandated sequence when processing returns.
- 1Unsubsidized Direct Loans
- 2Subsidized Direct Loans
- 3Direct PLUS Loans
- 4Federal Pell Grants
- 5Federal Supplemental Educational Opportunity Grants (FSEOG)