The Department of Education (DOE) requires an institution of higher education to obtain authorizations from the students to be allowed to perform certain activities when dealing with Title IV Funding (Financial Aid). The DOE defines these activities as follows:
1. Disbursing Federal Student Aid (FSA) funds (including Federal Work-study wages) by EFT to a bank account designated by student or parent
2. Using FSA funds, including work study funds to pay allowable charges other than tuition, fees, room and board if the student contracts with the school.
3. Holding an FSA credit balance
4. Applying FSA funds to small prior-year charges.
When a student agrees to the terms and conditions at the time they accept their financial aid awards on BannerWeb, the student is certifying that they understand and agree to the following Title IV authorizations.
1. The student agrees to apply FSA funds to minor prior-year charges. The amount can only be $200.00 or less paid back to the prior year.
2. The student agrees to apply FSA funds to pay allowable charges other than tuition, fees and room and board assuming the student contracts the room and board with the school. Also, the student agrees to allow the University of Dallas to pay all charges on your university student account including but not limited to parking permits, parking fines, library fines, health insurance, health center charges, yearbook etc. before a refund is created.
3. The student agrees to allow their funds to be disbursed by EFT to a bank account designated by the student or parent. This process will be done through the BankMobile Refund Program. For additional information on the BankMobile Refund Program, click here.
Note: All students have choices in how they receive their excess aid from the University. This authorization applies if a student has chosen direct deposit to another financial institution or a bank account with BankMobile. If there has been no selection, then this authorization does not apply and the student will receive a check from BankMobile within 21 to 28 business days of a refund being sent to BankMobile.
A student may opt out of the authorizations under "Authorizing Title IV Authorizations". The student may opt-out of Authorizations 1 and 2 by filling out the online form. (Title IV Authorization Opt-out Form) This form will be emailed to the Financial Aid Office and Student Account Services to notify the appropriate personnel of the student's desire to cancel authorization 1 and 2.
Any student wanting to opt-out of item 3, under "Authorizing Title IV Authorizations", must have signed up for direct deposit or a bank account with BankMobile or another financial institution. If the student has one of these two delivery options, then they will need to login to BankMobile and change their preference to receive a check. All refunds are issued by BankMobile, whether it is direct deposit to a bank account or a physical check mailed to the student. Please see BankMobile webpage. http://www.udallas.edu/offices/sas/onedisburse.html for additional details concerning the BankMobile refund program.
By opts-out of authorizations one and two listed above, this will prevent any financial aid from being used to pay any allowable charges. (i.e. parking permits, parking fines, DART Rail passes, Library fines, health insurance, health center charges, yearbook etc.) Financial aid will continue to pay tuition, fees, room and board. A hold will be placed on the account until all outstanding charges are paid in full.
Once the authorization has been cancelled, all allowable charges must be paid by the student in full at the beginning of the semester. Students can be dropped from classes if payment arrangements are not made for the semester.
The cancelling of authorization 1 and 2 begins on the date that the online form is filled out and submitted by the student. In order for the student to cancel authorization 3, they will need to login to BankMobile to change their preference to receive a physical check. This can be done at anytime (www.myonemoney.com).
A student who previously has opted-out of authorization 1 and 2 may at anytime opt back in. This means that the student agrees to the terms and conditions stated in the section "Authorizing Title IV Authorization" for authorization 1 and 2. The student will need to fill in the opt-in form.