Education
Title IV Refund (Return of Federal Aid)
Returning unearned federal financial aid to the government after a student withdraws.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Deferred Tuition Revenue | Liability (-) | 3,000.00 | - |
| Cash (Due to Government) | Asset (-) | - | 3,000.00 |
💡 Accountant's Note
Federal law requires schools to return a portion of a student's aid if they do not complete the term. This reduces the school's cash and its deferred revenue.
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