Title IV Aid Authorizations

Background

Federal regulations regarding the use of Title IV financial aid funds awarded to students provide that an institution may directly credit Title IV awards to a student's account at the institution to satisfy current charges for tuition, fees and room and board if the student contracts with the school. Additionally, students may authorize the University to apply any excess funds to satisfy other outstanding charges beyond tuition, fees, room and board (such as bookstore, parking, etc.) for the current and prior award years.

Authorization

Most students will complete the Title IV Aid Authorization on-line through the Bearcat Web/Banner Self-Service account. He/she will have the opportunity to authorize the University to apply the proceeds of financial aid awards to current year charges, including Federal Title IV aid (such as Pell Grant, Federal Direct Student Loan, Parent PLUS Loan, Perkins Student Loan, and SEOG Grant), as well as any state, institutional or other financial aid.

In addition, the student will also be able to authorize the University to apply financial aid proceeds to minor prior award year charges incurred for educationally related activities, including books, supplies, miscellaneous fees, charges and fines, and other expenses that remain outstanding, not to exceed $200. (For balances higher than $200, you will need to contact the Student Accounts Office at (864)388-8303).

The authorization shall remain in effect for the entire period during which the student is enrolled at the institution unless he/she updates this authorization in the Lander University Student Accounts Office.