Student Handbook - Southern University New Orleans

If the student’s portion of unearned Title IV funds is a student loan, no actionby the school is necessary. Regular loan terms and conditions apply. If thestudent's portion of unearned Title IV funds is a federal grant, the student willbe required to return no more than 50% of the amount received for the enrollmentperiod.In the event of resignation, the SUNO institutional refund policy will be applied.After performing the Return to Title IV calculation, the student may beliable for any Title IV funds disbursed to his or her account in excess of theamount allowed by federal regulations. The school will determine which portionof any assistance the student owes. If no payment is made, holds will beplaced on the student’s account and the student may lose eligibility for Title IVaid unless the overpayment is paid in full or satisfactory repayment arrangementsare made.Unearned funds are allocated to the Title IV programs from which the studentreceived assistance in the following order:1. Unsubsidized Federal Stafford and Direct Loans2. Subsidized Federal Stafford and Direct Loans3. Federal Perkins Loans Program4. Federal Pell Grant5. Federal Supplemental Educational Opportunity Grant(SEOG) Program6. Other Title IV Programs (LEAP)7. Other Federal, State, Private, and Institutional AidPrograms8. Teach Grant9. Louisiana Go Grantote: Refer to the “Refund of Fees” section of this Handbook and the SUNOCatalog for more information.72