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Once the R2T4 calculation has been completed, ÃÛÌÒÊÓƵ University will return all unearned aid the school is responsible for returning to its federal program. Aid is returned in the following order:

• Federal Direct Unsubsidized Loan
• Federal Direct Subsidized Loan
• Federal Perkins Loan
• Federal Direct Graduate PLUS Loan
• Federal Direct Parent PLUS Loan
• Federal Pell Grant
• Federal Supplemental Educational Opportunity Grant (FSEOG)
• Teacher Education Assistance for College and Higher Education Grant (TEACH)
• Iraq and Afghanistan Service Grant

You will receive an email notifying you once the return has been made. The email will instruct you to view your

Self-Service Banner account to view the amount of funds that have been returned.

Any Federal Grants that you are responsible for returning is called a Federal Overpayment. Federal regulations provide that 50% of the unearned amount of all federal grants is protected by the federal calculation. If determined that you owe a federal grant overpayment, the University will make this return on your behalf. If the amount is less than $50, then no repayment is required.

Any loan funds that you (or parent for a PLUS Loan), are responsible for returning must be repaid in accordance with the terms and conditions of the Master Promissory Note.