Unclaimed Student Title IV Refunds

Policy Owner: Chief Finance Officer

Policy Statement:

It is the policy of Manhattan Area Technical College (Manhattan Tech) to comply with federal requirements that unclaimed student refunds from the Title IV federal financial aid programs must be returned to the appropriate programs no later than 240 days after the check was issued or electronic fund transfer (EFT) was made. Under no circumstances may unclaimed Title IV Federal Student Aid (FSA) funds escheat to the state, or revert to the College, or any other third party.

Policy Rational:

To set forth guidelines and procedures to ensure that the return of unclaimed student Title IV refunds is performed in accordance with Federal regulations, which is administered through the U.S. Department of Education’s (ED) Office of Federal Student Aid.