Excess Funds on Your Student Account
The Federal Government requires educational institutions to return any excess Title IV funds (Pell Grants, SEOG, and/or other loan funds) to students at the close of the academic year.
If you receive a check, you may do one of three things with these funds:
- You may keep the money to use for current educational costs such as living expenses, a computer for class, etc.
- If the money comes from a Stafford loan, you may want to contact your lender and "pay down" your loan balance. That is, if you do not need the money, you can reduce your future debt by returning this money to your lender.
- You may decide to deposit the money to your bank account and then write Nazarene Bible College a check for all or part of amount of your refund. If you choose this third option, simply mail us a check (Attn: Business Office), and we will apply it to your account as a partial payment toward tuition, fees, and books for the next year.
Reminder: If you are taking a summer course, you may need to use this refund to pay for the tuition and any related expenses.
If you have questions regarding your student account, please contact the Business Office at (719) 884-5022 or 884-5024. If you have any questions regarding your financial aid, please contact the Financial Aid Office at (719) 884-5051 or 884-5052.
Filed Under: Communicator Published: 03/24/2008