The United States Department of Education has issued rules governing the issuance of Title IV* student financial assistance program funds.
(1) Institutions may only apply Title IV funds to tuition and fees, and contracted room and board. With authorization from the student or parent (for PLUS Loans), funds may be applied to other institutional charges the student incurs at his/her discretion, except, institutions may not apply Title IV funds to charges assessed in a prior award year or period of enrollment.
(2) The student must be issued the excess Title IV funds resulting from a credit to the student's account within the later of-
a) 14 days after the date the balance occurs
b) 14 days after the first day of class of a payment period
c) 14 days after the student rescinds his/her authorization to hold funds.
Students may elect to have their excess funds deposited directly into their bank account. Enrolling in direct deposit is highly recommended and relieves students of the burden of personally depositing a mailed refund check by ensuring that funds are transferred directly to your account. You can enroll in direct deposit on BlazerNET. Under the tab labeled Student Resources, on the Student Accounting Channel, click the link labeled Manage Direct Deposits.
Students who do not elect to have their funds deposited directly into their bank account will receive their funds in the form of a check. All funds, however, must be issued in accordance with the above stated deadlines. Therefore, all checks will be mailed within ten (10) days of its issuance. Checks will be mailed to the student's local address on file with the UAB registrar’s office.
*Student financial aid programs authorized by Title IV of the Higher Education Act of 1965 include Federal Pell Grant, Federal Perkins Loan, Federal Supplemental Educational Opportunity Grant, Federal Direct Stafford/Ford Loan, Federal Direct Unsubsidized Stafford/Ford Loan, Federal Direct Plus Loan, Federal Work-Study, Leveraging Educational Assistance Partnership Program (LEAPP), Robert C. Byrd Honors Scholarship, and Presidential Access Scholarship.