Every semester, unless authorized, we are required by law to refund any unused Title IV monies.
Title IV funds include Subsidized and Unsubsidized student loans, Grad PLUS loans, Parent PLUS loans, FSEOG, federal Pell grants, and federal Perkins loans.
Deposit it in a bank account or cash it. It's up to you.
Over the course of each term, there may be some items charged to your AU student account that the federal government does not consider essentail educational expenses coverable by Title IV funds. These items may include balances from a previous aid year, library fines, parking citations, lab printing charges, club dues, or chapel/assembly fines. If you owe Andrews for any of the items listed above, you will need to pay your account to avoid interest charges or registration holds. Account payments can be made in the form of cash, personal.bank check, or credit card.
Yes, there is. Ever semester when you financially clear, you may elect to have Andrews pay these charges on your behalf using your Title IV monies. You will see two options:
If you select option #1: Your Title IV funds will be used to cover all of your educational expenses, and you will not receive an unwanted Title IV refund. You will still be able to request the credit off your AU account as usual.
If you select option #2: Student Financial Services will cover only those expenses recognized as essential by the federal government. By selecting this option, you will be sent Title IV refunds if the situation warrants and you will be responsible for paying all miscellaneous items in a timely manner with your own out of pocket funds.
*You may not owe money. Your Title IV refund will come with an accompanying letter stating whether or not you owe the University.