What are Title IV funds?

Title IV funds are federal student aid funds, which are from federal student aid programs administered by the U.S. Department of Education.  Title IV funds include Direct Subsidized/Unsubsidized Loan, Direct Graduate PLUS Loan, Direct PLUS Loan, Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (SEOG), and Federal Perkins Loan.  It does not include scholarships or grants from Delaware Valley College or other private organizations.

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 College.

Do I have an excess of Title IV funds?

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

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

It does not matter whether or not you have other scholarships or grants in determining if you have excess Title IV funds.  Federal regulations require that Title IV funds pay for your tuition, mandatory fees, and room and board if contracted by Delaware Valley College.  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 check?

Federal regulations state that any federal funds disbursed to a student’s account in excess of allowable charges must be refunded to the student (or parent in case of an undergraduate PLUS loan) within 14 days.  You will receive an email notification when your check is available for pick-up in the Bursar’s Office.

Title IV Calculation Example

Account Holder
Mr. Del College

Charges

Payments/Credits

Balance

Tuition – Full Time Day

$15,883.00

 

$15,883.00

Student Activity Fee        

$100.00

 

$15,98300

Comprehensive Fee 

$930.00

 

$16,913.00

Residence Hall Fee

$2,745.00

 

$19,658.00

Meal Plan

$3,243.00

 

$22,901.00

Benefit Grant

 

$1,000.00

$21,908.00

Faculty Scholarship

 

$8,000.00

$13,901.00

PHEAA Grant

 

$2,174.00

$11,727.00

Direct Subsidized Loan

 

$2,737.00

$8,990.00

Direct Unsubsidized Loan

 

$990.00

$8,000.00

Federal Direct PLUS

 

$8,500.00

-$500.00

The above table shows that Mr. Del College has a credit balance of $500.00 on his student account.  Del’s $500.00 credit balance is the difference between the total of all his charges ($22,901) and the total of all his payments ($23,401).

However, the table below shows that the credit balance is not from an excess of Title IV Funds.  The Title IV calculation is based upon the difference between his total allowable charges ($22,901) and his total Title IV funds ($12,227).  The order of the disbursement of the payments and Title IV funds does not affect the calculation in determining if there is an excess of Title IV funds.

Account Holder
Mr. Del College

Charges

Payments/Credits

Balance

Tution – Full Time Day

$15,883.00

 

$15,883.00

Student Activity Fee        

$100.00

 

$15,983.00

Comprehensive Fee

$930.00

 

$16,913.00

Residence Hall Fee

$2,745.00

 

$19,658.00

Meal Plan

$3,243.00

 

$22,901.00

Direct Subsidized Loan

 

$2,737.00

$20,164.00

Direct Unsubsidized Loan

 

$990.00

$19,174.00

Federal Direct PLUS

 

$8,500.00

$10,674.00

Note:  The dollars amounts shown are for illustrative purposes only and may not reflect the official rates.