Order of Return of Title IV Funds
In accordance with regulations, a school must return Title IV funds to the programs from which a student received aid during the payment period or period of enrollment as applicable, in the following order; up to the net amount disbursed from each source:
- Direct Unsubsidized Loan
- Direct Subsidized Loan
- Federal Perkins Loan
- Direct PLUS Loan
- Federal Pell Grant
- Federal Supplemental Education Opportunity Grant (FSEOG)
- Federal TEACH Grant
- Other assistance under this Title for which a return of funds is required
- Other federal, state, private, or institutional sources of aid
- The student