A student officially withdraws from all courses at their university mid-semester. The university is obligated to perform a Return of Title IV Funds (R2T4) calculation if the student received federal financial aid and withdrew before completing what percentage of the enrollment period?
✓ Correct Answer: Option C
The R2T4 calculation determines the amount of federal financial aid a student 'earned' based on the percentage of the enrollment period completed. If a student withdraws before completing more than 60% of the period, the school must return unearned funds.