As a parent, if I borrow a Direct Parent PLUS Loan for my student, how can I get funds from that for my student’s books and/or living expenses? Can the refund be sent directly to my student?
When you submit your application for the Direct Parent PLUS Loan on www.studentloans.gov, you will be asked to select if you want any refund sent to you or to your student. If you wish to change your answer after submitting your application, please send an email request to sfs@uvm.edu. If your Direct Parent PLUS Loan overpays the charges on your student’s account, a refund will be generated for the overrage. Depending on how you answered the refund question on your application, the refund will be sent to you or to your student. You and your student may set up Direct Deposit accounts so that the refund can be directly deposited into your bank account. Your student does this on the myUVM account, and you can do this through your Authorized Payer account. If you are not set up as an Authorized Payer, your student will need to set you up through the myUVM account. If no Direct Deposit account is set up, we will mail a refund check to the address on file for you or your student (depending o
Related Questions
- I am a parent and plan to borrow a Parent PLUS Loan for my student for the Summer Session 2010 and/or the 2010 - 2011 academic year. What should I do this year?
- How do I get a refund for the excess funds I have borrowed with my Parent PLUS loan for my student’s books or living expenses?
- How much can a parent or graduate and professional degree student borrow under the PLUS Loan program?
