Federal Title IV Funds Policy
Title IV is a term that refers to federal financial aid funds. Federal regulations state that any federal funds disbursed to a student's account in excess of allowable charges must be delivered to the student (or parent in case of an undergraduate PLUS loan.)
If other non-allowable charges (such as health insurance, vehicle registration, bookstore charges, etc.) are on the account, an outstanding balance due may exist after the Title IV excess has been delivered.
To prevent an outstanding balance due, students or parents may authorize Notre Dame to apply excess funds to the student account for non-allowable charges by signing an authorization form (below).
Federal Title IV Funds
- Direct Subsidized/Unsubsidized Loan
- Direct Graduate PLUS Loan
- Direct PLUS Loan
- Pell Grant
- SEO Grant
Title IV Allowable Charges
- Tuition
- Mandatory Fees
- Room & Board, if contracted with the University
Title IV Calculation Example
| 901234567 Irish, Joe Balance: -$2,134.50 |
||
| Description | Charge | Payment |
| Fed Direct Unsub Loan | 10,147.50 | |
| Fed Direct Grad PLUS Loan | 16,575.00 | |
| Health Insurance | 2,148.00 | |
| 0000000123 Bookstore | 250.00 | |
| Graduate Tuition | 21,990.00 | |
| Technology Fee | 125.00 | |
| Health Center Access Fee | 75.00 | |
| Totals | $24,588.00 | $26,722.50 |
The above table shows that Joe Irish has a credit balance of $2,134.50 on his student account. Joe's $2,134.50 credit balance is the difference between the total of all his charges ($24,588) and the total of all his payments ($26,722.50).
However, the table below shows that Joe has a Federal Title IV excess of $4,532.50. The Title IV calculation is based upon the difference between his total allowable charges ($22,190) and his total Title IV funds ($26,722.50).
| Allowable Charges | Federal Title IV Funds | ||
| Grad Tuition | 21,990.00 | PLUS Loan | 16,575.00 |
| Mandatory Fees | 200.00 | Direct Unsub Loan | 10,147.50 |
| Housing | 0 | ||
| Total $22,190.00 | Total $26,722.50 | ||
|
Federal Title IV Funds - Allowable Charges = Excess Title IV Funds 26,722.50 - 22,190 = 4,532.50 |
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If Joe elects to receive the Title IV excess of $4,532.50, a balance due of $2,398.00 ($4,532.50 minus $2,134.50) would exist on his student account.
Note: The dollar amounts shown are for illustrative purposes only and may not reflect the official rates.
Authorization Process
Students (or parent in the case of an undergraduate PLUS loan) will be notified via email from the Office of Student Accounts when there are excess Title IV funds on the student account. Included within the email is an Authorization Statement. If the student (or parent) agrees with the Authorization Statement and replies to the email, the Office of Student Accounts will apply Title IV funds to non-allowable charges. If a reply is not received by the due date listed within the email, the process of returning the Title IV excess to the student (or parent) will begin.
If the student (or parent in the case of an undergraduate PLUS loan) does not wish to wait for the email to be sent by the Office of Student Accounts, the Authorization Form may be printed from the link provided above, completed, and returned to the Office of Student Accounts.
Additional Information
Those wishing to learn more about Title IV funds may select the following link of Frequently Asked Questions for this topic.