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Author: Julie DiPuccio, Sr. Financial Aid Consultant

As a friendly reminder, before you complete an R2T4 calculation with “could have been disbursed” loan funds, please make sure you have a signed MPN and if your school policy dictates having the student sign the Financial Aid Offer form to accept or decline the offers, there must be a signed Financial Aid Offer form in the student’s file.

Below is an excerpt from the FSA Handbook stating this requirement.

In all Title IV loan programs, a promissory note must be signed for a loan to be included as aid that could have been disbursed in an R2T4 calculation. The signature may be obtained after the student withdraws but must be signed before the school performs the R2T4 calculation. In addition, if a school has an affirmative confirmation process set up to actively determine if a student wants a Direct Loan, if the student declines or fails to respond to the request, the Direct Loan would not be included as aid that could have been disbursed.