Allocation of Title IV Refunds

A refund owed to a student who received funds under any Title IV, HEA program will be returned to the Title IV, HEA programs from which the student received aid in the following order until the amounts received by the student from these programs are eliminated: the Federal Unsubsidized Direct Loan program, the Federal Subsidized Direct Loan program, the Federal PLUS Loan program, the Federal Pell Grant program, the Federal SEOG program, TEACH Grant, all other sources of aid, any unpaid institutional aid.