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Title IV financial aid may be used for allowable charges including tuition, mandatory fees, and room and board charges assessed by Northeastern University. Any Title IV funds awarded to a student in excess of these charges must be refunded to the student. However, with student authorization, Northeastern University can use the Title IV funds to pay for charges on the student’s account other than allowable charges or can hold the funds to pay for charges incurred in a future semester within the same financial aid year. These authorizations are voluntary and may be revoked at any time, although a cancelation is not retroactive.
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.
Title IV financial aid programs include Federal Pell Grants, Federal Supplemental Educational Opportunity Grants, Federal Academic Competitiveness Grants, National SMART Grants, Federal Direct Student Loans, Federal PLUS Loans, and Iraq and Afghanistan Service Grants.
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. Additionally, federal funds can pay for charges from prior years up to $200. 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 their 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 charges in a future term during the academic year. I agree that in order to complete this authorization, I must also complete the Refund Opt-Out Form in the Student Hub and select “yes” to be excluded from the automatic refund process. Further, I understand that if I would like to receive a refund of excess aid during the academic year and/or cancel this authorization, I must change my selection on the Refund Opt-Out Form to “no.” You can learn more about the Refund Opt-Out Form here.
If a student says “Yes” to this authorization, then any credit balance that was a result of federal funding would remain on their student account to pay for future charges, such as next term’s tuition or current term adjustments. If a Title IV credit remains at the end of the student’s academic year, the university will issue a refund, per federal requirements. If a student says “No,” then the student will be refunded their credit balance via check or direct deposit.
You may complete the authorization process by submitting the Student Title IV Credit Authorization Form. Additionally, if you are completing the second authorization, authorizing Northeastern University to hold excess Title IV credit for future term charges, you must take the additional step of completing the Refund Opt-Out Form.
A parent who has borrowed through the Federal Direct PLUS Loan program must also complete the Parent Title IV Credit Authorization Form if the proceeds of the loan are to be used for future charges or charges other than tuition, fees, university housing, and meal plans.
Authorizations are voluntary and will remain in effect for the duration of your Northeastern University education. You may rescind your authorization at any time by submitting a new authorization form, although cancelations are not retroactive. Please note that to rescind the second authorization, you must take the additional step of opting back into the automatic refund process by re-completing the Refund Opt-Out Form in the Student Hub.