From: Alvarez, Maria (malvare@ufl.edu)
Date: Fri Mar 08 2002 - 15:10:44 EST
Hi Carol,
Our office, University Financial Services @ University of Florida in
Gainesville, Florida handles the R2T4 computation.
For a grant overpayment (PELL,SEOG) the student does not have to repay if
after the computation minus the 50% the final amount is under $25.00. And
the school does not have to return the student portion in that case, only
the "unearned" school portion.
Also, if the student received loans, only the school needs to return their
portion based on the computation of R2T4. The student does not have to
return his/her "unearned" portion of the loan, until the loan goes into
"repayment" based on his/her last term of attendance.
Hope this helps.
Maria Alvarez
Maria Alvarez
University Financial Services, Finance and Accounting
S-113 Criser Hall, PO Box 114050, Gainesville, FL 32611
(352) 392-0779 Fax: (352) 392-3448
malvare@ufl.edu <mailto:malvare@ufl.edu>
-----Original Message-----
From: E: Pollitz, Carol A [mailto:capollitz@vfcc.edu]
Sent: Friday, March 08, 2002 2:33 PM
To: bursar-l@virginia.edu
Subject: Return of Pell grant
This is the first time we have run across this situation. A student
withdrew for which we were required to perform a R2T4 computation and the
student is to return part of her Pell grant according to the Dept. of Ed
software. How does a student return part of the Pell grant? I've dealt
with loan money to be returned by both the school and the student but not
this situation where both the school and the student are to return Pell
grant monies. It also struck me as unusual that the grant money to be
returned is reduced by 50% when it is being returned by the student. The $
amount is less than $20 so I thought maybe I could just return it with the
school's portion but I can't find any guidance.
Many thanks.
Carol Pollitz, CPA
Comptroller
Valley Forge Christian College
1401 Charlestown Road
Phoenixville, PA 19460
610-917-1420
capollitz@vfcc.edu
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