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Once the R2T4 calculation has been completed, °ÅÀÖÊÓƵ 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.