The Department of Education regulates the treatment of all Federal Grants and Loans. For those students who withdraw during a semester, the college is required to exercise the “Return to Title IV calculation (R2T4).”

　　The R2T4 is based on the number of days in the semester divided into the date of withdrawal. This provides the percentage of Title IV aid a student has “earned”.

　　For example, if the semester is 102 days, and a student withdrawal date falls on the 43rd day of the semester, the formula used would be 43 / 102 or 42.2 percent. This percentage would then be applied to the Title IV aid disbursed, or potentially disbursed, in order to determine how much and which proceeds need to be returned. Any “earned” percentage greater than 60 will yield the student 100% retention of all eligible Title IV aid.

　　The order in which funds are returned is also determined by the Department of Education. The Attribution Table requires funds to be returned as follows:

First	Federal Unsubsidized Stafford Loan
Second	Federal Subsidized Stafford Loan
Third	Federal Parent Loans (FPLUS)
Fourth	Federal Pell Grant
Fifth	Federal Supplementation Educational
	Opportunity Grant (FSEOG)
Sixth	Other Title IV Programs
NOTE:	Federal Work-Study (FWS) must be earned
	and is not included in the R2T4 calculation.
	Funds earned prior to withdrawal may be kept
	by the student or retained, with student
	authorization, by the school for a balance
	owed. Students, however, may not continue
	working in the FWS program after their with
	drawal date.

NEW YORK STATE TAP

　　New York State requires the college to report tuition liability to NYS Higher Education Services Corporation. As TAP is driven by the cost of tuition, the TAP reduction is relative to withdrawal date and liability incurred. Our experience is that students with 70 percent or more liability generally receive their full TAP for the semester. However, due to lack of academic progress, such students are not eligible for TAP until pursuit of progress is re-established.

MONROE GRANTS AND SCHOLARSHIPS

　　Monroe College will prorate all grants and scholarships based on tuition liability. Students with liability greater than 0 percent and less than 100% will have their awards prorated based on the percentage of tuition liability. Students whose withdrawal date takes place during or after the ninth week of the semester will retain 100% of their awards.

BALANCE DUE AND OVER AWARDS

　　Students are responsible for open balances resulting from withdrawal and the above financial aid retention policies. Students are also responsible for any aid proceeds received, in the form of a refund, for which they are no longer eligible. Monroe College encourages all students, who need to withdraw, to take advantage of one-on-one counseling available only during an official on-site withdrawal.