University of Nebraska at Kearney

1996-98 UNK Undergraduate Catalog

REFUND /REPAYMENT POLICY FOR FINANCIAL AID RECIPIENTS

If a student receives financial assistance from Title IV programs (Federal Perkins Loan [formerly National Direct Student Loan-NDSL], Federal Stafford Loan [formerly the Guaranteed Student Loan-GSL], the Federal Pell Grant, the Federal Supplemental Educational Opportunity Grant, or the State Scholarship Award Program) and subsequently withdraws from school during the award period, federal law mandates that the student may have to repay all or a portion of such assistance. The amount of repayment required is based on formulas derived by federal regulation.

The Title IV program reimbursement monies will be withheld from any institutional refund (tuition, room, board, etc.) due the student. If these monies are not sufficient to cover the reimbursement required, the student will be billed for the remaining amount. Failure by a student to comply with this refund policy will make such student ineligible to participate in any Title IV aid program at any institution of higher education.

The Federal Government has established the following priority for the reimbursement of funds:

1. Federal Stafford, and PLUS loans
2. Federal Perkins Loan Program
3. Federal Pell Grant Program
4. Federal SEOG Program
5. Federal College Work Study Program
6. Other
7. Student