Frequently Asked Questions (FAQ)
Title IV Financial Authorizations for Students
What are Federal Title IV funds?
Title IV funds are federal student aid (FSA) funds administered by the U.S. Department of Education. Title IV funds include Direct Subsidized/Unsubsidized Loan, Direct Graduate PLUS Loan, Direct Parent PLUS Loan, Federal Pell Grant, and Federal Supplemental Educational Opportunity Grant (SEOG). It does not include scholarships or other funds from Herzing University, state sources, or external organizations.
What must Title IV aid pay?
Your Title IV Federal financial aid will automatically pay your current-year institutional charges (i.e., tuition and fees). No further authorization is needed.
What aid is not restricted?
All other aid you are receiving (other than Title IV) will pay any charge on your account. For example, scholarships or institutional grants and private loans will always pay any charge on your student account.
Why might I have an excess of Title IV funds?
An excess of Title IV funds occurs when the total amount of Title IV funds disbursed to your student account exceeds charges for tuition and fees billed by Herzing University on your student account. An excess of Title IV funds does not necessarily mean you have a credit balance on your overall account. It means there are no other charges that those funds may pay.
How do I complete the Authorization Questions for Federal Title IV Financial Aid Funds?
Log into your Herzing Financial Aid Site at login.herzing.edu. Click on the Documents portal from the main menu. Select the Title IV Authorizations document listed. Your authorizations will be valid from that point throughout your entire Herzing University enrollment, unless you rescind them. This online form is how you manage your Title IV authorizations.
How might answering “yes” to the authorization questions help me?
By answering “yes” to the questions, Title IV funds will be able to be held as a credit balance for the academic year, and funds may be return to the lender should you have a schedule change or revision to your account, reducing your overall loan debt. You may provide authorizations for one, both, or none of these. The choice is yours.
If I answer “yes” to the questions, will I still be able to request a refund for the credit balance on my student account?
Yes. Your authorization allows Herzing University to hold a credit balance for future charges in the academic year only if needed and to reduce your outstanding loan balance by returning any credit balance to your lender should you have a schedule change or revision. You may provide authorizations for one, both, or none of these. The choice is yours.
What if I answer “no” to the Title IV Authorization questions?
If you do not want to grant permission to hold any credit balance to pay for future charges in the academic year you may receive a refund (electronically to your checking or savings account if you have provided your banking information through BankMobile or via paper check). This may result in higher overall loan debt. Also, you may be sent a bill for any charges that could not be paid with your Title IV aid. Receiving a refund does not mean you have a $0 balance on your account.
Do I have to answer the authorization questions each term or academic year?
No. Your authorizations remain valid throughout your entire Herzing University enrollment, unless you rescind them. As required by federal regulation, the University will refund to you excess Title IV funds at the end of each academic year whether you have provided an authorization to hold a credit balance or not.
Is there a deadline?
No. Any authorization you provide is valid from that point forward, unless you rescind it. You may receive an email at the start of each aid year as a reminder of your options. You may access the online form at any time through your Financial Aid Site.
Does having an excess of Title IV funds mean that I have an overall credit balance on my student account?
Not necessarily. An excess of Title IV funds means that your federal financial aid exceeds the charges it is permitted to pay (as defined above). You may login to your Herzing Student Portal and access your Student Account to determine whether you have a credit balance or an amount due to Herzing University.
How may I rescind a Title IV authorization?
Go to login.herzing.edu to access your Financial Aid Site and select the Documents menu. Locate the Title IV Authorization document. Please note that changes to your authorizations are not retroactive and take effect when they are processed.
Why did I receive this Title IV Authorization - Withdrawal form?
This form outlines a student’s preference for the treatment of Title IV credit balances created as a result of a withdrawal and/or approved break from Herzing University. The signing of this form is optional and is not required. By signing this form, a student authorizes Herzing University to return to the lender the amount of any excess Title IV funds which may exist on the student account. This reduces a student’s overall loan debt and means less to repay. Herzing University will default to returning all credit balances to the student if the authorization form in not signed/not returned within the allowable timeframe.
I am on approved break, why did I get the Title IV Authorization - Withdrawal form?
When on an approved break, students remain current Herzing University students and will be considered to be out on temporary leave. This allows for a break from classes without having to go through the re-entry process when scheduled to return. The approved break or temporary leave status applies only to the Herzing University status and does not carry over into school status for Federal Student Aid purposes. This means that when on an approved break, a student must be reported as a withdrawn student for Federal Student Aid purposes. Withdrawn students enter the grace period on applicable student loans, and if previously in repayment of any educational loans prior to starting at Herzing, will re-enter that repayment status and may have loan payments due. In addition, students are sent a document to review called the Title IV Authorization – Withdrawal. This document allows Herzing University to send excess student loan funding no longer needed to pay for Herzing charges (if applicable), back to the Department of Education, lowering overall student loan debt. The signing of this form is optional and is not required.
Please contact your Herzing University Financial Aid Advisor via email or by calling (866) 508-0748.