You have a Title IV credit balance if your federal financial aid exceeds your charges for tuition, fees, university housing and meal plans for a term.
1. I authorize Northeastern University to use any Title IV fund credit balance to pay any current institutional charges that I incur, such as, but not limited to, Husky Card charges, parking, health, lab, and late fees. If all current year institutional charges are paid, I further authorize any Title IV fund credit balance to pay any minor outstanding university charges from prior years, not to exceed $200.
If a student says “Yes” to this question, federal funds can be used to pay for other charges like Husky charges, lost library books, etc. If a student says “No,” a billing statement will be issued requesting payment for those other items. So a student who says “No” and has a parking fee on his account could be put on hold for not making this payment out of pocket.
2. I authorize Northeastern University to hold any excess Title IV funds on my account to pay for future fees. I agree that in order to receive any credit balance, I must submit a refund request. I understand that if I do not provide this authorization, the university will refund this credit balance to me.
If a student says “Yes” to this question, then any credit balance that was a result of federal funding would remain on his student account to pay for future charges, such as next term’s tuition or current term adjustments (like late-added meal plans). If a student says “No,” then the university would send a check for the credit balance when requested.
Most types of federal student aid and loans are from Title IV of the Higher Education Act, and are included in this authorization. Funds include Federal Pell Grants, Federal Supplemental Educational Opportunity Grants, Federal Academic Competitiveness Grants, National SMART Grants, Federal Direct Stafford and PLUS Loans, and Federal Perkins Loans.
If you have been awarded Title IV financial aid and you have not previously completed the Title IV Credit Authorization, you should complete the authorization process via your myNortheastern. Once you have logged in, choose “Services & Links,” then select “My Financial Aid Status” under the “Student Financial Services” category, and “Applications.”
A parent who has borrowed through the Federal Direct PLUS Loan program also needs to complete a Title IV Credit Authorization if the proceeds of the loan are to be used for charges other than tuition, fees, university housing and meal plans.
If you do not grant authorization, your federal financial aid and loans cannot be used to pay for charges other than tuition, fees, university housing and meal plans, and any excess aid will be refunded to you. This may negatively affect any financial plan you have in place.
These authorizations are voluntary and will remain in effect for the duration of your Northeastern University education. If you wish to rescind the authorization you may do so at any time by notifying Student Financial Services in writing.