The date of MTTI’s determination that the student withdrew varies depending on the type of withdrawal. For example, if a student begins the official withdrawal process or provides official notification to the Director of Financial Aid/Registrar of his or her intent to withdraw, the date of MTTI’s determination that the student withdrew would be the date the student began the official withdrawal process or the date of the student’s notification, whichever is later. If a student did not begin the official withdrawal process or provide notification of his or her intent to withdraw would be the date that the school becomes aware that the student ceased attendance.
When a recipient of Title IV aid withdraws from an institution during a payment period or period of enrollment in which the recipient began attendance, the institution must determine the amount of Title IV aid that the student earned as of the student’s withdrawal date.
After the Return to Title IV funds and the institution refund has been calculated the student will be informed of the financial consequences of their withdrawal. They will be informed of any remaining balance to their Direct Loans and any balance owed to the school.
Title IV aid includes assistance from the Direct Loan, Federal Pell Grant, Federal SEOG programs for MTTI students.
If the total amount of Title IV aid that the student earned (as calculated by the R2T4) is less than the amount of Title IV aid that was disbursed to the student (or on behalf of the student in the case of a PLUS loan) as of the date of the institution’s determination that the student withdrew, the difference between these amounts must be returned to the Title IV programs. Title IV funds are returned in the order as determined by USDE regulation.
For the return of funds by the student, the student (or parent for a PLUS loan) must return unearned aid for which the student is responsible by repaying funds in the order as determined by USDE regulation after subtracting the amount that MTTI will return.
If the total amount of Title IV aid that the student earned (as calculated by the R2T4) is greater than the total amount of Title IV aid that was disbursed to the student (or on behalf of the student in the case of a PLUS loan) as of the date of the institutions determination that the student withdrew, the difference between these amounts must be treated as a post-withdrawal disbursement. A post-withdrawal disbursement must be made from available grant funds before available loan funds.
If outstanding charges exist on the student’s account, the institution may credit the student’s account up to the amount of outstanding charges with all or a portion of any:
The institution must disburse directly to a student any amount of a post-withdrawal disbursement of grant funds that is not credited to the student’s account. The institution must make the disbursement as soon as possible, but no later than 45 days after the date of the institutions determination that the student withdrew.
MTTI must provide within 45 days of the date of the determination that the student withdrew a written notification to the student, or parent in the case of parent PLUS loan the result of return of Title IV funds.
The amount of title IV grant or loan assistance that is earned by the student is calculated by determining the percentage of Title IV aid that has been earned by the student.
Apply this percentage to the total amount of Title IV aid that was disbursed (and that could have been disbursed) to the student for the payment period as of the student’s withdrawal date.
The percentage of Title IV aid that has been earned by the student is:
On the Return to Title IV Return the following information needs to be listed:
The percentage of Title IV aid that has not been earned by the student is calculated by determining the percentage of Title IV aid earned by the student. The unearned amount to be returned is calculated by subtracting the amount of Title IV assistance earned by the student as calculated from the amount of Title IV aid that was disbursed to the student as of the date of the determined withdrawal date.
The total number of calendar days in a payment period includes all days within the period that the student was scheduled to complete, except that scheduled breaks of at least five consecutive days are excluded from the total number of calendar days in a payment period and the number of calendar days completed in that period.
The total number of calendar days in a payment period also does not include days in which the student was on an approved leave of absence.
If there is a Title IV refund due per the R2T4 calculation, the money is returned in the following order:
The money is transferred from the MTTI account to the Federal Pell account or the Federal Direct Lending account within 45 days of determination of the student’s withdrawal. A refund report is sent to Boston Educational Network.
The next step is to complete the State Refund Worksheet. The State Refund Policy is based on quarters (25%, 50%, 75%, and 100%).
For the Student Request For Official Withdrawal Form, please click here.
For a PDF of this page, including the Student Request For Official Withdrawal Form, please click here.
To view an R2T4 calculation Example For Return of Title IV Funds, please click here.
