What are Title IV funds?

Title IV funds consist of federal student aid awarded from programs administered by the U.S. Department of Education.  Title IV funds include federal Direct Subsidized/Unsubsidized loans, Perkins loans, Direct Graduate PLUS loans, Direct PLUS loans, Pell grants, and Supplemental Educational Opportunity grants (SEOG). Funds provided by any other public or private source, such as Delaware Valley University scholarships and grants, state grants (Pennsylvania PHEAA and EAP, grants from other states, and vocational rehabilitation funds), tuition exchange programs, Post 9/11 GI Bill benefits, and federal tuition assistance for active military servicemembers, are not Title IV funds.

How are Title IV funds applied to my student account?

The Department of Education requires that Title IV funds be applied only to specific allowable charges.  Allowable charges include tuition, mandatory fees, and room and board contracted by Delaware Valley University.

Do I have an excess of Title IV funds?

An excess of Title IV funds occurs when the total amount of Title IV aid disbursed to your student account exceeds charges for tuition, mandatory fees, and room and board contracted by Delaware Valley University. 

What if I have oth​er scholarships or grants and Title IV funds? 

Other sources of financial aid do not affect the determination of excess Title IV funds.  Federal regulations require that Title IV funds pay for tuition, mandatory fees, and room and board if contracted by Delaware Valley University.  Please see the calculation example below to help you determine if you have an excess of Title IV funds.

When will I get my refund ?

Federal regulations require us to refund excess Title IV funds within 14 days of application of the funds to a student's account. Most refunds, however, are not Title IV refunds. Non-title IV financial aid refunds are generally available within two (2) to three (3) weeks after financial aid creates a credit balance on your student account. We do not guarantee a specific availability date for non-title IV refunds. The Office of the Bursar will send an email notification to the student's DelVal address when a refund has been processed.

Can I have my refund direct deposited to me?

Yes.  The University is able to process an eRefund in lieu of a physical check.  You must first  sign up for eRefunds through your TouchNet account.  You will receive an email notification that your eRefund has been approved. Funds are deposited in your bank account within 5 business days.

 

Title IV Calculation Example

Account Holder
Mr. Del University

Charges

Payments/Credits

Balance

Tuition – Full Time Day

$16,598.00

 

$16,598.00

Student Activity Fee        

$100.00

 

$16,698.00

Comprehensive Fee 

$930.00

 

$17,628.00

Residence Hall Fee

$2,868.00

 

$20,496.00

Meal Plan

$3,391.00

 

$23,887.00

Benefit Grant

 

$1,000.00

$22,887.00

Faculty Scholarship

 

$8,000.00

$14,887.00

PHEAA Grant

 

$2,174.00

$12,713.00

Direct Subsidized Loan

 

$2,737.00

$9,976.00

Direct Unsubsidized Loan

 

$990.00

$8,986.00

Federal Direct PLUS Loan

 

$9,500.00

-$514.00

The above table shows that Mr. Del University has a credit balance of $514.00 on his student account because his total financial aid ($24,401) is greater than his total charges ($23,887). His refund is not a Title IV refund, because the credit balance is due in part to financial aid from sources other than Title IV funds. The timing of disbursement of financial aid from multiple sources does not affect the calculation of excess Title IV funds.

However, the table below shows an excess of Title IV Funds.  In this case, the total Title IV funds ($24,427) exceed the total allowable charges ($23,887) by $540.  This refund is a Title IV refund.

Account Holder
Mr. Del University

Charges

Payments/Credits

Balance

Tution – Full Time Day

$16,598.00

 

$16,598.00

Student Activity Fee        

$100.00

 

$16,698.00

Comprehensive Fee

$930.00

 

$17,628.00

Residence Hall Fee

$2,868.00

 

$20,496.00

Meal Plan

$3,391.00

 

$23,887.00

Direct Subsidized Loan

 

$2,737.00

$21,150.00

Direct Unsubsidized Loan

 

$990.00

$20,160.00

Federal Direct PLUS Loan

 

$20,700.00

-$540.00

Note:  The dollars amounts shown are for illustrative purposes only and may not reflect current rates for tuition, fees, room, board, and financial aid.