Applying Financial Aid to Non-Institutional Charges
If you are awarded financial aid, you may be eligible for a refund if your financial aid is in excess of your semester charges based on your aid eligibility and enrollment status.
Under federal regulations, you need to complete this Title IV Authorization Form (Dynamic Form). Please allow 24 business hours for processing.
This will allow Fitchburg State University to apply excess funds from Federal Aid to pay non-institutional charges that may be assessed to your student account. These charges may include books, parking permits, housing fines, health insurance, etc.
Student Account Balance and Financial Aid
A student account balance may be satisfied using actual/accepted financial aid awards if the following conditions are met:.
- A Free Application for Federal Student Aid (FAFSA) needs to completed.
- The student file with the Financial Aid Office must be completed.
- Awards must be accepted through MyFalcon.
- Entrance Counseling and Promissory Notes must be completed for Federal Direct Loans or Parent Plus loans. This is only required for first time borrowers.
- Estimated awards can’t be used as credit.
- Federal work study awards can’t be used as credit.
Once actual accepted aid has been deducted from the semester bill, any remaining balance must be remitted to the Student Accounts Office by the due date indicated on the semester bill.
If the remaining balance is a credit, the student will be refunded once funds have been received from funding sources and disbursed to the student account. Refunds may not be available until the mid-point of the semester. Disbursements of loans are dependent on completing entrance counseling and signing all required promissory notes. It is important for students to respond to notifications from Financial Aid informing them of these requirements.
Fitchburg State complies with federal recommendations and guidelines. The institutional charges or financial obligations are paid in full before any refund(s) to students are issued. Again, this may not be until the mid-point of the semester, so it is important that students plan accordingly for rent and the purchase of books or other supplies.
If a student fails to complete all necessary paperwork required for their financial aid, their aid may be canceled and the student will assume the responsibility of paying all charges due to Fitchburg State University immediately.
For further information regarding Financial Aid, please visit Financial Aid.