a a a a a a a a a a a a aaa a a aaa a aa aa a a a The Case Study Worksheets WITHDRAWAL RECORD (WR) Completed properly when a student withdraws, this document provides all the data needed to calculated refunds and repayments REFUND CALCULATION and organizes it so that it's easy to use. WORKSHEET WITHDRAWAL RECORD Completed using the figures from the a a a a a a a a a 1. Studenta a Informationa aaa a a aaa a aa aa a a a WR, this Worksheet calculates unpaid Name Start Date Withdrawal Date/LDA Social Security Number Length of Enrollment Period Date of WD/LDA Determination charges and refunds, and can be used a a a a a a a a a a a a USE TOTALS FOR PERIOD aaa a a aaa a aa aa a a a 2. Program Costs CHARGED* for nonpro rata refund policies (except non- non- inst. inst. inst. inst. TOTAL Tuition/Fees Personal/Living Inst. Costs: the Federal Refund Calculation. Administrative Fee Dependent Care A Room & Board Disability Costs TOTAL Noninst. Costs: Books & Supplies Miscellaneous REFUND CALCULATION WORKSHEET a a a a a a a a a a a a a a a B a aa a a a a a a a a a a a a a aa aa a a a Transportation Miscellaneous a aa aa a a a aaaa a a a a a aa a a a a a aaa a a a a a a a a a a a a TOTAL Aid Paid Total Institutional Costs a a a a a a a aa a a a a aa aa a a a a a 3. Payments/Disbursements a (from Withdrawal Record) A aaa a a aaa a aa aa a a a To Inst. Costs: STEP ONE Total Aid Paid to Inst. Costs* a a a a a a a a aa a a a a a a a a a Paid to Cash to Paid to Cash to Unpaida Chargesa a (also from Withdrawal Record) C DATE SOURCE Inst. Costs Student DATE SOURCE Inst. Costs Student C aa a a a a a a aa a aa a a a a a a a a a a a a a a *Scheduleda SFA payments and FFEL/Direct late Scheduled Cash Payment (SCP) TOTAL Paid To disbursements that have not yet been received, for (attribution not allowable) a a aa aa a a aaa a a a a aa Inst. Costs: whicha the studenta is still eligible in spite of having withdrawn, must be counted to reduce the student's Student's Cash Paid aaa a a a a a a a a a a a a a a a a a a a a scheduleda a cash payment.a This includes late State (from Withdrawal Record) D aid disbursements as allowed under written State a a a a a a a a a a aa a aa a a a a a a a a a a aa policy.a (Scheduled payments from sources other TOTAL Aid Paid than those above cannot be counted in this manner.) UNPAID CHARGES a a a aa a a a a a a a a a a a as Cash: a a aa aa aa a a a a aa a a a aa a a a a a a a E a (Exclude work-study awards.) a a a aaa a a a a a a a a a a a a a a a a a a a a a a a *USE TOTALS AS CHARGED FOR THE ENROLLMENT PERIOD (The following minimums apply: for term programs, use Total Institutional Costs aSTEP TWO (from Withdrawal Record) A a aa a a a a aa a aa a a a a totals for the term; for all nonterm programs longer than or equal to the academic year, use totals for the payment period or for one-half of the a a a a a a a a academic year, whichever is greater. For all nonterm programs shorter than the academic year, use totals for the program length. If you charge by different periods for different charges, convert all totals to represent the longest period.) % Allowed to Retain* aa a aaa a a a a a a a aaa aaa a a a a aa a Amount Retained (from refund policy being used) a a a a a a a a a a a a X *Use the percentage specified by the State, accrediting aa a aa a a a a a a a aaaaa a a a aa aa a a a a aa a a 4. Data for Pro Rata and Federal Refund agency, Federal Refunda Calculation, or institutional Initial Amount Retained aaa a a aaa a aa aa a a a refund policy being used for this calculation. For By The School If this amount is zero or first-time students who withdraw on or before the 60% negative, all SFA paid to a a a aa aaa a a a a aaaa a a a a a aa aa a IS THIS STUDENT A FIRST-TIME STUDENT? A first-time student is one who has not previously attended at least one a a a a UNPAID CHARGES school charges must be point in the enrollment period (see Withdrawal Record returned (exc. FWS). class at this school, or has received a 100 percent refund (less any permitted administrative fee) for previous attendance. (A first-time for details), a statutory pro rata refund must also be (from Step One) a a a a aa aa aa a a a a a a a a a student remains so until he or she withdraws after attending at least one class at the school or completes the period of enrollment.) YES NO calculated.a For every student receiving SFA funds, the aaa a a a a a a a a a a school must compare the possible refunds and use the aaa aa aa a a a a aa a a a a a aa DID THIS STUDENT WITHDRAW ON OR BEFORE THE 60% POINT? For credit-hour programs, the calculationa that providesa the largest refund. AMOUNT RETAINED 60% point is the point in calendar time when 60% of the enrollment period has elapsed. For clock-hour programs, it is the point a a a a aaa a a a a a a aa a aa a when this particular student completes 60% of the hours scheduled for the enrollment period. YES NO a a a a aa a a a a a a a a a a a a a a a a a a a a a aa a a a a a a aa a a IF THE ANSWER TO BOTH QUESTIONS IS "YES," a statutory pro rata refund calculationa is required for this student. For this a calculation,a you must determine the Portion That Remains (of the enrollment period) and the institutional costs that may be excluded, if any. a a a a a a a aaa a aa a a aaa a a a a STEPa THREE Total Paid to Institutional Costs D aa a a a a a a a a a a a a a (from Withdrawal Record) a aa a a aaaa a aa a a a aa TO DETERMINE THE PORTION THAT REMAINS, TO DETERMINE EXCLUDABLE INSTITUTIONAL COSTS: a a a calculate as follows and round DOWN to the nearest 10% •Administrative Fee (up to $100 or 5%, whichever is less) + Amount Retained a a aa a a a a a a a a a a a a a a a aa a a a aa a aa a a a aa a a a aa a a a a a •For credit-hour programs: •Documented Cost of Unreturnable Equipmenta + Refund Amount (from Step Two) WEEKS REMAINING •Documented Cost of Returnable Equipment (if not returned in a a a a a a aa a a Generally, funds must be returned to the appropriate aa a a a a a a a a aa a a a a a a a a aa a a TOTAL WEEKS IN PERIOD a good condition within 20 days of withdrawal) + program account(s) within 30 days of the date of REFUND AMOUNT •For clock-hour programs:* a a a aa a a a a TOTAL EXCLUDABLE INST. COSTS (for Pro Rata and withdrawal, and to the lender within 60 days of the same. a aa a a a aa a a a a a a a a a aa a a a a a TO BE DISTRIBUTED HOURS REMAINING Federal Refund calculations only): TOTAL HOURS IN PERIOD a a a a a a a a a a a aa a aa a a aaa a a aaa a aa aa a a a •For correspondence programs: Pro Rata/Federal Refund Institutional Costs: a a aa a a a a LESSONSa NOT SUBMITTEDa TOTAL LESSONS IN PERIOD A aaa a a aa A1 *DO NOT use scheduled hours. Also, excused absences can count as “hours completed.” Total Institutional Costs Total Excludable Inst. Costs a a a a a aa aaaa a a a a aa a a a a a a a REFUND DISTRIBUTION—Prescribed by Law and Regulation TOTAL REFUND 1. Federal SLS Loan 8. Federal Perkins Loan a aaa a a a REPAYMENT CALCULATIONa WORKSHEET a a a a a a a a a a a a a a 2. Unsubsidized Federal Stafford Loan 9.