The Artist Institute

This policy applies when The Artist Institute disburses Title IV federal student aid.

A Title IV credit balance occurs when federal student aid credited to a student’s account exceeds allowable charges for the payment period.

The Artist Institute will pay credit balances as soon as possible, but no later than:

• 14 calendar days after the first day of the payment period’s classes, if the balance arose on or before that day; or
• 14 calendar days after the balance arose, if it arose after classes began.

Payment will be made by check or electronic transfer to an account designated by the student or parent. Students are not required to submit a request to receive their credit balance.

Balances attributable to Parent PLUS loans will be paid to the parent unless the parent authorizes payment to the student.

The school will not hold credit balances for future charges. If a student withdraws, applicable Return of Title IV Funds requirements govern the handling of any remaining balance.

This policy is separate from the school’s tuition refund policy.