What is a Title IV overpayment?
A1 A Title IV overpayment is the amount of any Title IV student assistance funds received by a student that exceeds the amount the student is eligible to receive. Q2 Must overpayments from all Title IV student assistance programs be reported to the NSLDS? A2 No, only overpayments in the Federal Pell Grant (Pell), Federal Supplemental Educational Opportunity Grant (FSEOG), and Federal Perkins Loan (Perkins) programs need to be reported to the NSLDS. Because of the structure of the Federal Work-Study program, overpayments in it do not occur. Also, in general once all disbursements of an FFEL or Direct Loan have been made, there is no possibility of an overpayment that schools would need to enter into the NSLDS. In some limited situations (i.e., the student never having begun attendance), a student may be required to repay the lender all or a portion of the loan proceeds received. When this circumstance exists the lender will report to the NSLDS; the school is not required to do so. Q3 Mu
