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Administrator Guide
Last Updated: 2025-03-14
Steps: Return Title IV Funds

Steps: Return Title IV Funds

To be eligible for the entire amount of Title IV financial aid for a standard academic period, a withdrawn student must attend at least 60 percent of the scheduled days in the period. If they meet this requirement, they may be entitled to a post-withdrawal disbursement. If the student attends less than 60 percent of scheduled days, they must return any unearned Title IV funds to the federal government. The amount of unearned funds is calculated based on the student's withdrawal date or a percentage you specify.
Workday enables you to create Return of Title IV (R2T4) worksheets that calculate the amount of Title IV funds to return to the U.S. Department of Education or an amount of post-withdrawal disbursements owed to the student in a standard academic period.
  1. Access your
    Student Institutional Withdrawal Event
     business process in the Student Records functional area.
    1. From the related actions menu, select
      Business Process
      Edit Definition
      .
    2. Add an
      Action
       step and specify
      Create Return of Title IV Worksheet
      .
      This step initiates the
      Return of Title IV Worksheet Event
       subprocess, which automatically sends you a My Tasks item to create a R2T4 worksheet when a student officially withdraws using the
      Request Withdrawal
       student task, or when an administrator processes the withdrawal as part of the
      Student Institutional Withdrawal Event
       business process.
    Security: These domains in the System functional area:
    • Business Process Administration
    • Manage: Business Process Definitions
  2. (Optional) Create custom notifications for the
    Return of Title IV Worksheet Event
     business process. See Create Custom Notifications.
    You can notify students about:
    • The status of their R2T4 worksheet.
    • The results of their R2T4 worksheet calculation.
  3. Access the
    Edit Academic Calendar
     task and ensure that your academic calendar includes the correct holiday calendar in the
    Non-Instructional Days
     prompt.
    Security:
    Set Up: Academic Calendar
     domain in the Academic Foundation functional area.
  4. (Optional) If your institution offers weekend instructional days, run the
    Maintain Federal Student Aid Program Policy
     task and select the appropriate days for your FSA program policy in the
    R2T4 Weekend Instructional Days
     section.
    Security:
    Set Up: Financial Aid Rule Sets and Policies
     domain in the Financial Aid functional area.
  5. (Optional) If you made changes to your academic calendar or weekend instructional days, run the
    Refresh Financial Aid Based on Configuration Changes
     task and select
    Refresh Non-Instructional Days for Weeks of Instruction
     for the associated standard academic period.
    Security: These domains in the Financial Aid functional area:
    • Set Up: Financial Aid
    • Manage: ISIR Action Item Evaluation
  6. Access the
    Maintain Return of Title IV Configuration
     task.
    Specify the order in which you want Workday to return federal loans and grants for an award year.
    Security:
    Manage: Return of Title IV Processing - USA
     domain in the Financial Aid functional area.
  7. Access the
    Find Students for Return of Title IV
     report.
    Identify a student for whom you need to create a R2T4 worksheet. See Concept: Find Students for Return of Title IV.
    Security:
    Manage: Return of Title IV Processing - USA
     domain in the Financial Aid functional area.
  8. Either:
    • Manually create a worksheet for a student who hasn't officially withdrawn. You can create only 1 worksheet per student per standard academic period.
    • Update an existing worksheet.
  9. Update the student's
    Total Financial Assistance
     report on the Financial Aid profile group of their profile.
    The R2T4 calculation displays net amounts.
    Security:
    Manage: Total Financial Assistance
     domain in the Financial Aid functional area.
Return the financial aid using the
Disburse Financial Aid Payments
 task from the related actions menu on the
Run Student Financial Aid Processes by Period
 report. You must complete this action within 45 days of the date of determination or the withdrawal date (whichever's later) to comply with federal regulations.