Direct Cost Policy

  1. Non-institutional gift aid such as Title IV funds, state grants, and outside scholarships will be applied to the student account first. Institutional aid is always applied last.
  2. If a student has a credit caused by institutional aid and outside scholarships, the student is not eligible for a refund. The institutional aid will be adjusted down to remove the credit.
  3. If an on campus student has a credit caused by institutional aid and/or other gift aid in conjunction with a PELL grant , they are eligible for a refund up to a maximum of the PELL award. Off campus students are not eligible for this refund .
  4. Title IV loans such as Stafford, PLUS, or Perkins loans are refundable. The refund cannot exceed the amount of the loan.
  5. In a credit situation, before institutional aid is adjusted down, the student is entitled to an up to $600 per semester book voucher, except where the scholarship states that books are not covered.
  6. A meal plan cannot be added to an off campus student's account and be covered by an institutional credit.
  7. For off-campus students who receive any institutional aid, a meal plan can be added to the student's account and covered by an existing credit if the total award package (including institutional, state and federal aid, but excluding the Lipscomb employee discount ) amounts to a full ride (full tuition, fees, room and board) or greater. The credit will be allowed to cover the Herd (middle-level) meal plan only.

For complete details, see the current Undergraduate Student Catalog.