IIT's general policy for disbursement of Title IV funds is that the money will only be applied towards educational expenses incurred in the same academic period for which the financial aid was processed.

However, students also have the option to modify the use of Title IV funds so the funds can be applied towards non-educational expenses and/or to cover charges associated with past or future terms. If a student wishes to modify the use of their Title IV funds, then he/she needs to complete the new Title IV form to opt into any or all of the three options which are listed below:

• pay for non-educational expenses
• pay a maximum prior year balance of $200 (which is the maximum amount allowed by Dept. of Ed.)
• pay an upcoming semester's balance with a current credit balance

We are pleased to announce that, beginning Monday August 24, 2009, students can complete the Title IV form on-line by logging into the myiit Portal; the Title IV form is located in the Bursar's Channel.

It should also be noted that students may complete or update the Title IV form at any time during the year and it will go into effect on the date that it is submitted.

For questions regarding this form and its use, please contact the Bursar at 312.567.3794.