Recommended Ledger Procedures, R2T4 Calculation

The Return to Title IV Calculation is a tool that, if used properly, can help a school determine the amount of funds that need to be returned to Title IV after a student drops or is terminated from your institution. The R2T4 tool relies heavily upon the other areas of SMART in performing its calculation. Before using the R2T4 tool, SMART recommends the following areas be checked for accuracy.


Prior to Running the R2T4 Calculation

1. The student must have a drop date (last date of attendance) and determined date entered on the Academic tab within the student profile.
2. The student’s schedule must include the scheduled hours for each scheduled day from the student’s start date to their last date of attendance.
3. Remove all days from the student’s schedule that are after their last date of attendance.
4. Make sure any LOA days have been entered properly and that no scheduled hours still remain on those LOA days.
5. It is highly recommended to post all Title IV aid received on the student’s ledger. The R2T4 tool will allow you to enter aid not posted on the ledger, but it is much easier to post it to the ledger instead of inserting it while running the R2T4 tool.

• Tip: All ledger postings should be posted prior to the students drop date in order to be calculated accurately in the R2T4.

Running the R2T4 Calculation

1. Select R2T4 from the top menu of the student’s profile page.
2. Select Period Used For Calculation, and select either Payment Period or Period of Enrollment.
3. Select Calculation Dates. The dates will pre-populate with information from the attendance tab. Enter the beginning of the payment period or period of enrollment in the Start of Period field.
4. Enter the Withdrawal Date into the Withdrawal Date field.
5. Enter the Withdrawal Determination Date into the Withdrawal Determination Date field.
6. Select Step 1 - Student’s Title IV Aid Information. This will communicate with the ledger and pull in all Title IV aid posted on the student ledger. Enter any Title IV aid you have not posted to the ledger in this tab as well.
7. The next step will be Step 5 - Institutional Charges. This will pull from the Financial tab. Select the Payment Amounts for the Period of Enrollment or the Payment Amounts for the Payment Period depending on how you charge. You may also manually enter the charges if needed.
8. Select Run Calculation and export the report into PDF.