Publication Date: June 23, 2008
Author: William Leith, Acting General Manager, Application, Operations and Delivery Services, Federal Student Aid
Summary: CCRAA Operational Implementation Guidance (CPS, COD System, and EDESuite) - Use Return of Title IV Funds (R2T4) Paper Worksheets for Students Withdrawing on or After July 1, 2008 Until Release of CCRAA-Compliant R2T4 on the Web on September 28, 2008
Posted on 06-23-2008
In a June 19, 2008 electronic announcement posted to the Information for Financial Aid Professionals (IFAP) Web site, we announced that the R2T4 on the Web site would be updated on September 28, 2008 to implement provisions related to the College Cost Reduction and Access Act (the CCRAA), Pub. L. 110-84.
R2T4 on the Web is an online, non-year-specific application used to calculate the earned and unearned portion of Title IV program assistance in accordance with section 484B of the Higher Education Act. The site is accessible through the FAA Main Menu of the FAA Access to CPS Online Web site (fafsa.ed.gov/FOTWWebApp/faa/faa.jsp) and from the View menu in the EDExpress for Windows software.
For Interim Period Use R2T4 Paper Worksheets for Students Withdrawing on or After July 1, 2008
In the interim period from July 1, 2008 to September 28, 2008, schools that normally use Federal Student Aid’s free R2T4 on the Web product should use the CCRAA-compliant paper versions of the R2T4 and Post-withdrawal Disbursement worksheets to perform calculations for students with a withdrawal date on or after July 1, 2008.
The CCRAA-compliant versions of the R2T4 and Post-withdrawal worksheets are available in PDF format on the IFAP Web site at http://ifap.ed.gov/aidworksheets/currentoptions.htm. You can also locate the PDF files by clicking on the “Return of Title IV Funds Worksheets” link on the IFAP home page.
To ensure correct usage of R2T4 on the Web during this interim period, the R2T4 on the Web site will be updated in late June to prevent entry of student records with a withdrawal date on or after July 1, 2008. This block will be removed as part of the September 28, 2008 update to the site. You can continue to use the R2T4 on the Web site after July 1, 2008, to perform calculations for students with a withdrawal date prior to July 1, 2008.
Note: Federal Student Aid strongly recommends that schools use the paper worksheets (and not R2T4 on the Web) to perform calculations for students who have a Withdrawal Date prior to July 1, 2008 but have a Date of School’s Determination that the Student Withdrew on or after July 1, 2008. The Web site will not correctly calculate certain countdown statistics for records falling under this scenario.
September 2008 Update to R2T4 on the Web
As part of the September 28, 2008 release, the R2T4 on the Web site will be updated to perform calculations for students who have withdrawn before July 1, 2008 as well as for students who have withdrawn on or after July 1, 2008. For students who have a withdrawal date on or after July 1, 2008, we will add new CCRAA-compliant credit-hour and clock-hour R2T4 worksheets and a new Post-withdrawal Disbursement worksheet. The CCRAA-compliant worksheets will be designed to capture the same information as the modified paper R2T4 and Post-withdrawal Disbursement worksheets available on the IFAP Web site.
Based on the withdrawal date you enter when adding a new student record, the Web site will display the appropriate worksheet and associated entry fields and perform calculations according to the rules and regulations applicable to the specific worksheet.
If You Have Questions
If you have any questions regarding R2T4 on the Web, contact CPS/SAIG Technical Support at 800/330-5947 (TDD/TTY 800/511-5806) or by e-mail at CPSSAIG@ed.gov.