How is the parent PLUS Loan applied toward my student’s tuition bill?
Typically, the student’s financial aid will be applied toward the student’s tuition bill first. However, if there is any balance at the time the PLUS loan is disbursed, it will be applied toward the remaining bill. The remaining loan will be refunded to whoever was designated on the PLUS application submitted through studentloans.gov. If you elect for the student to receive the refund, it will be sent to their direct deposit approximately three days prior to the beginning of the semester. If you elect to receive the refund directly, a check will be mailed to you (this process could take up to two weeks). Note: Due to a new Student Information system implementation, the PLUS Loan will not appear as “Anticipated Aid” on the first tuition bill. Learn more about How to View the Bill Online.
Related Questions
- What is the aggregate loan limit for a dependent undergraduate student whose parent has been denied a Federal PLUS Loan but who is eligible for an additional unsubsidized Federal Stafford Loan?
- 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?
- Can both parents or a parent and stepparent of a dependent student apply for a Parent PLUS loan for that student?
