This is the fourth in a series of 10 blog posts related to the Top 10 Audit Findings of the U.S. Department of Education.

According to the U.S. Department of Education, one of the top 10 audit findings is R2T4 (return of Title IV funds) made late. The Department finds that many institutions are having trouble making returns within the allowable timeframe.  Common reasons for late returns include an institution’s policies and procedures not followed; returns not made within the allowable 45-day time frame; inadequate system in place to identify/track official and unofficial withdrawals; and, no system in place to track number of days remaining to return funds.

This is the third in a series of 10 blog posts related to the Top 10 Audit Findings of the U.S. Department of Education.

According to the U.S. Department of Education, one of the top 10 audit findings is R2T4 (return of Title IV funds) calculation errors.

From a technical standpoint, regulations require that Title IV financial aid allocated for a student who later withdraws should be returned.