Can I use future financial aid funds to cover a prior balance?
A. Effective July 1, 2008, Federal Regulation 668.164 (d) (2) has been amended to allow institutions to only pay for prior award year charges up to$200 using future Financial Aid awards. Therefore, Baker College will no loner be able to roll balances forward to be covered by future financial aid an/or loan funds.
Related Questions
- I have an invoice for a Prior Year Purchase order and the invoice is greater than the amount on the PO. How do I add funds to a prior year purchase order to cover the increased cost of the goods?
- What happens if I have the overdraft protection from my Regular Savings and I overdraw my checking balance but no funds are available in my Regular Savings to cover the clearing check(s)?
- Can I use future financial aid funds to cover a prior balance?
