City Vision University: Return to Title IV Policy
Federal Pell grants and Federal loans are the only forms of federal student aid offered by City Vision University, and thus included in the Return to Title IV (R2T4) calculation.
The amount of Title IV aid earned is based on the amount of time student spends in attendance in a payment period, and the total aid received; it is calculated separately from the school’s refund policy. Because these requirements deal only with Title IV funds, the order of return of unearned funds do not include funds from sources other than the Title IV programs.
Title IV funds are awarded to the student under the assumption that he/she will attend school for the entire period for which the aid is awarded which is one eight-week term at a time. When a student withdraws completely from the term, he or she may no longer be eligible for the full amount of Title IV funds that were originally scheduled to be received. Therefore, the amount of Federal grant/Federal loans earned must be determined. If the amount disbursed to the student is greater than the amount earned, unearned funds must be returned.
The Department of Education’s R2T4 calculation used for this return is documented at http://ifap.ed.gov/aidworksheets/attachments/2010IASGCreditHourFinal.pdf
City Vision University measures progress in eight-week terms and uses them as payment periods for the period of calculation.
The last date of attendance used in the R2T4 calculation is defined as the last date on which the student submitted a graded assignment such as a paper, class forum, or quiz.
In almost every instance, students who participate past 60% of a term, measured in days, will have all of their Pell funds applied to their outstanding tuition.
If the R2T4 calculation shows that the student has received more Title IV aid than the student earned, students are not required to return the overpayment if this amount is equal to or less than 50 percent of the total grant assistance that was disbursed/or could have been disbursed. The student is also not required to return an overpayment if the amount is $50 or less.
City Vision University’s Financial Aid officer sends a Grant/Loans Overpayment notice to student within 30 days from the date of the school’s determination that student withdrew, giving the student 45 days to either:
- Repay the overpayment in full to City Vision University,
- Make repayment arrangements satisfactory to City Vision University, or
- Sign a repayment agreement with the Department of Education.
Note: If the initial amount of overpayment owed is $50.00 or less, student’s repayment requirement is forgiven.
No further Title IV funds may be issued until the next evaluation when the student meets the satisfactory policy requirements.
Refund Policy for Cancellation of Program/Course or Closure of School
If the school is permanently closed and no longer offers instruction, after a student has enrolled, the student shall be entitled to a pro rata refund of tuition.
If a program or course is canceled subsequently to a student’s enrollment and before instructions in the program or course has begun, City Vision University shall at its discretion either:
- provide a full refund of all monies paid, or
- provide completion of the program or course
The school at which students continue their education and training shall not charge the students an amount greater than that to which City Vision University l would have been entitled under its contract with the student and for which the student has not yet paid.
If a program or course is cancelled, City Vision University shall notify affected students individually of the availability of the refund or teach-out plan, and diligently advertise such availability. The agreements among institutions may provide that these notices may be sent by the schools(s) that are accepting students from City Vision.
City Vision shall dispose of school records in accordance with state laws.