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Overpayment of Aid

  • Last Updated: 06/01/2017
  • Effective Date:

Policy Statement
Circumstances may change after a student’s aid has been awarded, disbursed, and refunded which results in the overpayment of aid.  For instance, the student may receive a scholarship or grant from an outside organization after the initial awarding of aid for the term.  An overpayment exists whenever a student’s aid package exceeds his or her need or a student’s award exceeds his or her cost of attendance (COA).  In general, a student is liable for any overpayment made to him or her.
Reason for policy
Compliance with federal laws and regulations.
Procedures
Once an overpayment has been determined by OSFA, the student’s over awarded aid is reversed from their student account leaving them owing a balance on their original charges. If the student fails to pay the balance on their student account by the bill due date they will receive a hold that prevents future registration, transcripts, and grades. Should the balance remain unpaid, the account will be subject to collections.
Policy definitions
Responsibilities

Responsible University Senior Administrator: Vice President for Finance & Administration

Responsible University Administrator: Associate Vice President and Controller

Policy Owner: Bursar and Treasury Services Division Bursar@uga.edu

Policy Contact: Nicole Moon  nicole.moon@uga.edu

Phone Number: 706-542-2965

Record Retention

Retention: For records related to disbursements made for overpayments, including loan overpayment workpapers and correspondence, retention is five (5) years. BOR 0472-06-015

Georgia Code: O.C.G.A. 9-3-25; 11-2-725.

Policy Appendices

Code of Federal Regulations – Student debt under HEA: 34 CFR 668.35 

Federal Student Aid Handbook – Overawards and Overpayments Volume 4-43