Title IV FAQ
What are Federal Title IV funds?
Title IV funds are federal student aid (FSA) funds administered by the U.S. Department of Education. Title IV funds include Direct Subsidized/Unsubsidized Loan, Direct Parent PLUS Loan, Federal Pell Grant, and Federal Supplemental Educational Opportunity Grant (SEOG). It does not include scholarships from Principia or grants from Principia or other funds from Principia College, state sources, or external organizations.
What must Title IV aid pay?
Your Title IV Federal financial aid will automatically pay your current-year institutional charges (i.e., tuition and qualified fees).
What aid is not restricted?
All other aid you are receiving (other than Title IV) will pay any charge on your account. For example, scholarships or institutional grants and private loans may pay any charge on your student account.
What is a Title IV Credit Balance?
A Title IV credit balance occurs whenever the amount of Federal Title IV funds credited to your student’s account for a payment period exceeds the amount assessed for charges associated with that payment period.
Why might I have an excess of Title IV funds?
An excess of Title IV funds occurs when the total amount of Title IV aid funds disbursed to your student account exceeds charges for tuition, mandatory fees, and food and housing contracted with Principia College.
How do I complete the Authorization Questions for Federal Title IV Financial Aid Funds?
Log into your Principia College Self Service. Click on the Resources tab from the main menu. Your authorizations will be valid from that point throughout your entire Principia College enrollment, unless you rescind them. This online form is how you manage your Title IV authorizations.
Will the authorization of Title IV help me?
Yes. By signing these authorizations form, any excess financial aid will be permitted to be applied to prior, future or certain miscellaneous charges on your student account. Importantly, this may help prevent an “account hold” for unpaid charges, which would block you from registering for future semesters. It may also help expedite the issuing of a refund.
How might answering “yes” to the authorization questions help me?
By answering “yes” to the questions, Title IV funds will be able to be held as a credit balance for the academic year, and funds may be applied to your account, reducing your overall loan debt. You may provide authorizations for one, both, or none of these. The choice is yours.
What if I answer “no” to the Title IV Authorization questions?
If you do not want to grant permission to apply any credit balance to pay any other charges in the academic year you may receive a refund. Resulting in a higher overall loan debt. Also, you may be sent a bill for any charges that cannot be paid with your Title IV aid. Receiving a refund does not mean you have a $0 balance on your account.
Do I have to answer the authorization questions each term or academic year?
No. Your authorization remains valid throughout your entire enrollment at Principia College, unless you change your mind and rescind authorizations.
Is there a deadline?
No. Any authorization you provide is valid from that point forward, unless you rescind it. You may receive an email at the start of each aid year as a reminder of your options. You may access the online form at any time through your Self Service portal and review under the Notifications tab.
What If I change my mind?
These authorizations are voluntary and will remain in effect for the duration of your education at Principia College. If you wish to rescind the authorizations, you may do so at any time by notifying the Financial Aid Office in writing.
How may I rescind a Title IV authorization?
Go to the Financial Aid website and access the Principia Forms link on the right-hand side. Select Rescind the Credit Balance Authorization Form, complete it and submit form as instructed. Please note that changes to your authorizations are not retroactive and take effect when they are processed.