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How Federal Financial Aid Funds are Applied
to Your Student Account

 

Important Student Account Information

Federal regulations require that Title IV funds credited to your student account be applied only to cover allowable charges, unless Boston College obtains authorization to apply these funds to all other charges on your student account. You may submit your authorization electronically through your Agora Portal account.

Title IV federal financial aid funds include:

  • Pell Grants
  • SEOG
  • Perkins Loans
  • Federal Direct Loans
  • Undergraduate Parent PLUS Loans
  • Graduate PLUS Loans

Allowable charges include:

  • Tuition
  • Mandatory fees
  • Room and board

Non-allowable charges include but are not limited to:

  • Parking permits
  • Medical insurance
  • Replacement ID fees
  • University Health Services fees for service
  • Other miscellaneous fees

Without your authorization, Title IV funds credited to your student account cannot be applied to non-allowable charges. This may result in a refund being automatically issued to you that creates a balance due on your account. The resulting student account balance becomes your responsibility to repay.


Example Student Account

Tuition & mandatory fees $10,980
Medical insurance premium $966
Parking permit
$259
Total charges $12,205
Federal loan disbursements ($12,205)


With your authorization to apply Title IV funds to all charges, the resulting balance on your student account is $0. No automatic refund would be issued.

Without your authorization to apply Title IV funds to all charges, the resulting balance on your student account is still $0. However, $1,225 of the charges is not considered allowable. An automatic refund of $1,225 would be issued from your student account, and the result would be a balance due of $1,225. It would then be your responsibility to remit payment for that amount back to Boston College.

Your authorization is voluntary. It is valid for the duration of your academic career at Boston College, and it can be canceled at any time through your Agora Portal account.

If you have any questions, please contact us at 800-294-0294 or studentservices@bc.edu.