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Excess aid is the difference between your university charges/bill and the amount of financial aid (federal, state, institutional, private) you have been awarded. If the difference is negative, you would expect to receive excess aid.
Authorizations are required for Federal Student Aid to share your personal and loan information, contact preferences, and loan information to loan servicers or guaranty agencies. When will I receive my financial aid?
If you enter into a satisfactory repayment arrangement, the school may assign the debt to the U.S. Department of Education for collection or may keep the debt and allow you to make payments directly to them. If you do not carry out one of these options, you will lose your eligibility for further federal student aid.
Any money left over is paid to you directly for other education expenses. If you get your loan money, but then you realize that you dont need the money after all, you may cancel all or part of your loan within 120 days of receiving it and no interest or fees will be charged.
Excess funds are any credit balance (funds remaining) on your student account after your tuition and fees have been paid. Funds are first applied to your tuition and fee charges. Any remaining funds (excess funds) are disbursed to you, the student.

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In general, a part of your grant, scholarship or fellowship may be taxable if it exceeds your qualified tuition and related expenses in your degree program, even if you do not receive a W-2 for it.
Excess Funds are funds that are remaining after paying taxes, costs, and all expenses of a tax sale made by the Tax Commissioner.
Q: WILL PROVIDING THE AUTHORIZATION OF TITLE IV HELP ME? A: Yes. By signing the form, any excess financial aid will be permitted to be applied to prior, future or certain miscellaneous charges on your student account.

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