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Administrator Guide
Last Updated: 2025-03-14
Set Up Return of Title IV Worksheets

Set Up Return of Title IV Worksheets

  • Set up your Return of Title IV (R2T4) workflow. See Steps: Return Title IV Funds.
  • Security:
    Manage: Return of Title IV Processing - USA
     domain in the Financial Aid functional area.
An R2T4 worksheet enables you to calculate the amount of Title IV funds to return when a student withdraws before the end of a standard academic period. For a student who's officially withdrawn, Workday sends you a My Tasks notification to create a R2T4 worksheet. For a student who you identify as unofficially withdrawn using the
Find Students for Return of Title IV
 report, you can create a R2T4 worksheet manually.
  1. Access the
    Maintain Return of Title IV Worksheet
     task. On the prompt that displays, select the appropriate financial aid record and academic period for the student.
  2. On the
    Title IV Aid Information
     tab, make any necessary adjustments to the accepted and disbursed aid amounts.
    • Workday lists awards that are associated with award items that have eligible federal program IDs.
    • The
      Title IV Grant Program
       grid displays accepted and offered award item amounts.
    • The
      Title IV Loan Program
       grid displays disbursed and anticipated disbursements as a net amount of potentially disbursed financial aid.
  3. Complete the
    Percentage Earned
     tab to calculate the percentage of Title IV aid that the student is eligible for:
    Option Description
    Withdrawal Date
    Populates automatically when you use the
    Student Institutional Withdrawal Event
     business process.
    Use Program of Study Dates and Breaks
    Workday calculates the percentage earned by dividing the number of days that the student completed (according to their
    Withdrawal Date
    ) by the number of days in the academic period (minus institutionally scheduled break days). Example: A student attended school for 61 days in a 100-day academic period. Because the percentage of aid earned is 61 percent, the student exceeded the 60 percent threshold and is entitled to 100 percent of the aid, per U.S. Department of Education policy.
    Override Program of Study Dates and Breaks
    You can:
    • Select a custom
      Start Date
       and
      End Date
       for the academic period used in the calculation.
    • Add any nonscheduled breaks to the
      Break Day Date Ranges Used in Calculation
       grid.
    Manually Enter Percentage Earned
    If you manually enter a percentage earned value, Workday uses the withdrawal date for reporting purposes only.
  4. On the
    Institutional Charges
     tab, select the
    Refresh
     button to capture Title IV-eligible institutional charges for students as of the withdrawal date. Make adjustments to the charges as necessary. See Steps: Set Up Student Charges.
    Workday populates amounts if the charge item associated with the charge has:
    • Occurred as of the withdrawal date on the worksheet.
    • A
      Classification
       of
      Institutional
      .
    • 1 of these
      Type
       values:
      • Course Fee
      • Housing
      • Mandatory Fees
      • Tuition
  5. On the
    Institutional Returns
     tab and the
    Student Returns
     tab, review the amounts of Title IV aid to return.
    A student receives a Title IV grant protection of 50 percent of the aid that they receive. A student needs to return only the unearned funds that exceed the protection.
  6. On the
    Post-Withdrawal Tracking Sheet
     tab, determine if the student is due a post-withdrawal disbursement.
    1. Enter an amount in
      Box II. Outstanding Charges for Educationally Related Expenses Remaining on Student's Account
      .
    2. In the
      Title IV Grant Program
       grid, enter amounts for eligible grant programs.
    3. In the
      Title IV Loan Program
       grid, enter amounts for eligible loan programs.
      The student's post-withdrawal disbursement amount displays in
      Box III. Post-Withdrawal Disbursement Offered Directly to Student and/or Parent
      .
    When a student is eligible for a post-withdrawal disbursement, Workday recommends reviewing the
    Academic Period (POS)
     load status on the student's attendance plan before you report to Common Origination and Disbursement (COD). You may need to override this value to reflect the student's load status before their withdrawal.
  7. Click
    Submit
    .
Workday calculates the amount of Title IV funds to return and sends the worksheet to your financial aid manager for approval. Title IV funds are due 45 days after the student's withdrawal date. Post-withdrawal disbursements are due 30 days after the student's withdrawal date.
You can use the
Find Return of Title IV Worksheets
 report to view R2T4 worksheets for a given academic period. When you edit an existing worksheet, state why you made adjustments by selecting
Note
Add Student Note
 from the student's related actions menu.
To update actual return amounts, use the
Total Financial Assistance
 report on the Financial Aid profile group of the student's profile.