Student Drops, Withdrawals And R2t4 Quiz
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After completing the self-guided tutorial, you should be able to complete this quiz
- 1.
When a student drops a course:
- A.
They are still charged tuition and fees but the course appears on their transcript.
- B.
They are not charged tuition and fees and the course does not appear on their transcript.
- C.
They are not charged tuition and fees but the course appears on their transcript.
- D.
Students cannot drop courses
Correct Answer
B. They are not charged tuition and fees and the course does not appear on their transcript.Explanation
When a student drops a course, they are not charged tuition and fees and the course does not appear on their transcript. This means that dropping a course does not have any financial consequences for the student, and it also does not affect their academic record.Rate this question:
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- 2.
Mary was originally enrolled for 12 credits for Fall. She withdraws from one course during the third week bringing her down to 9 credits. As a result, SFS will:
- A.
Update her budget to part-time and adjust her aid to reflect enrollment in 9 credit hours.
- B.
Perform an R2T4 calculation.
- C.
Adjust her aid to reflect enrollment in 9 credit hours but her budget will not be adjusted.
- D.
Not be required to perform any adjustments to her aid or budget.
Correct Answer
D. Not be required to perform any adjustments to her aid or budget.Explanation
Since Mary only withdrew from one course, no action needs to be takenRate this question:
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- 3.
Which of the following funds is not considered in an R2T4 calculation?
- A.
State Grant Funds (MAP or IIA)
- B.
Parent Plus Loan Funds
- C.
Federal SEOG Grant Funds
- D.
Federal Pell Grant Funds
Correct Answer
A. State Grant Funds (MAP or IIA)Explanation
In an R2T4 (Return of Title IV Funds) calculation, the funds that are considered include Parent Plus Loan Funds, Federal SEOG Grant Funds, and Federal Pell Grant Funds. However, State Grant Funds (MAP or IIA) are not considered in this calculation.Rate this question:
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- 4.
Mike completely withdrew from the semester on October 10th (the 40th day in a term with 102 days). He has been awarded Pell, ACG, a subsidized stafford loan and an unsubsidized stafford loan. Verification is still pending so no aid has disbursed. Will SFS be required to complete an R2T4 calculation?
- A.
Yes, Mike was awarded Title IV aid and did not complete at least 60% of the term.
- B.
No, Mike's aid never disbursed so he is not eligible to receive Title IV aid.
Correct Answer
A. Yes, Mike was awarded Title IV aid and did not complete at least 60% of the term.Explanation
Yes, Mike will be required to complete an R2T4 calculation because he was awarded Title IV aid and did not complete at least 60% of the term. The R2T4 calculation is used to determine the amount of federal financial aid that must be returned to the government when a student withdraws from school before completing the required percentage of the term. Since Mike withdrew from the semester on the 40th day out of 102 days, he did not meet the 60% threshold and therefore the calculation must be completed.Rate this question:
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- 5.
Lisa comes into the office during the 6th week of the semester. She is thinking about completely withdrawing from the term because it is too expensive and she cannot pay her bill. Academically, she is doing fine. The best advice to give her would be:
- A.
To withdraw from the term. Her tuition would be refunded and she would no longer owe a balance.
- B.
To stop attending classes. At this point, there's nothing she can do.
- C.
To speak with academic advising about her academic options and look at her available funding options to cover her balance.
- D.
To transfer to another school.
Correct Answer
C. To speak with academic advising about her academic options and look at her available funding options to cover her balance.Explanation
Withdrawing from classes will not help Lisa pay her bill or reduce the amount owed. She should be encouraged to speak with Academic Advising about her academic options and SFS should provide resources for resolving her balance for the semester, such as a private loan or payment plan.Rate this question:
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- 6.
What type of Title IV aid is returned first?
- A.
Federal Parent Plus/Graduate Plus Loan
- B.
Federal Unsubsidized Stafford Loan
- C.
Federal Subsidized Stafford Loan
- D.
Federal Pell Grant
Correct Answer
B. Federal Unsubsidized Stafford LoanExplanation
The Federal Unsubsidized Stafford Loan is returned first because it is a type of Title IV aid that accrues interest while the student is in school. This means that the loan balance increases over time, so it is generally recommended to pay off this loan first to minimize the overall amount of interest paid.Rate this question:
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- 7.
True or False: If, at the time an R2T4 calculation is being performed, a student has not completed his/her MPN for the Federal Stafford Loans awarded then these loan funds cannot be included in the calculation and the student is not eligible to receive them.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
If a student has not completed their Master Promissory Note (MPN) for Federal Stafford Loans at the time of an R2T4 calculation, these loan funds cannot be included in the calculation. This means that the student is not eligible to receive those loan funds.Rate this question:
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- 8.
Logan begins the semester enrolled in 12 credit hours. During week 3 he withdraws from one course, bringing him down to 9 credit hours. During week 5 he withdraws from two courses, bringing him down to 3 credit hours. At this point, SFS would:
- A.
Perform an R2T4 calculation.
- B.
Not adjust his aid.
- C.
Adjust his aid and budget down to less-than half-time status.
- D.
Return all of his aid.
Correct Answer
B. Not adjust his aid.Explanation
Because he only withdrew from two courses, we are not required to adjust his aid.Rate this question:
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- 9.
When a student receiving Title IV funds does not earn any passing grades for credit at the end of the term, he or she would be classified as:
- A.
An official withdrawal.
- B.
An unofficial withdrawal.
- C.
A R2T4 withdrawal.
- D.
An unofficial R2T4.
Correct Answer
B. An unofficial withdrawal.Explanation
When a student receiving Title IV funds does not earn any passing grades for credit at the end of the term, they would be classified as an unofficial withdrawal. This means that the student did not officially withdraw from the course or institution, but their lack of passing grades indicates that they effectively withdrew from their academic responsibilities.Rate this question:
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- 10.
What are some of the consequences of a student being classified as an official or unofficial withdrawal for a term? Check all that apply.
- A.
Will likely owe a balance that cannot be repaid using Title IV funds.
- B.
Will not meet SAP requirements for the semester.
- C.
Will be immediately dismissed from the college.
- D.
Will be reported to the clearinghouse and may enter loan repayment.
Correct Answer(s)
A. Will likely owe a balance that cannot be repaid using Title IV funds.
B. Will not meet SAP requirements for the semester.
D. Will be reported to the clearinghouse and may enter loan repayment.Explanation
If a student is classified as an official or unofficial withdrawal for a term, they will likely owe a balance that cannot be repaid using Title IV funds. This means that they will have to find alternative ways to repay the balance, as Title IV funds are federal financial aid that is typically used to cover tuition and other educational expenses. Additionally, the student will not meet SAP (Satisfactory Academic Progress) requirements for the semester, which may have consequences such as losing financial aid eligibility. The student will also be reported to the clearinghouse, which may result in entering loan repayment if they have borrowed loans for their education.Rate this question:
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