Time Frame for Returning Title IV Funds
Return of Title IV Funds (T2T4) calculations will occur immediately upon the institution determining a student has withdrawn. Central will return funds to the appropriate Title IV program as soon as possible, but never later than 45 days from determination that a student has withdrawn from the institution. If the R2T4 calculation results in a credit balance on the student’s account, the credit balance will be disbursed to the student on the first Friday following the calculation AND always within 14 days of the credit balance occurring on the student’s account. In the event the R2T4 calculation results in an amount to be returned to the Title IV programs that exceeds the amount Central College had originally retained on the student’s account, Central will repay the Title IV program on the student’s behalf and the student would then owe the College the same amount.