When you fill out your PLUS application online through www.studentaid.gov, there are two VERY important options that will determine how your PLUS proceeds are applied and refunded.
- Parent PLUS and Grad PLUS Loans: AUTHORIZATION FOR SCHOOL TO USE LOAN FUNDS TO SATISFY OTHER CHARGES:
This box MUST be checked if you wish to apply your PLUS loan proceeds to all charges on the student account. Parent PLUS or Graduate PLUS loan applications that did not select the option to authorize proceeds to pay of all charges on the student account could result in a balance remaining after the payment of charges such as tuition, housing, and meal plans. Other charges such as parking fines, football tickets, etc. may remain on the account even after a refund is issued. (More information) - Parent PLUS Loans ONLY: CREDIT BALANCE OPTION:
There are two options on how you wish to receive any credit balance (refund on account) that results from your PLUS loan proceeds.If you wish to release the credit balance directly to your student, check the box listed “The Student”. Under this option, your credit balance would go directly to your student via check or direct deposit (if student has authorized this method through Student Account Services).If you wish to receive the credit balance yourself, check the box listed “Me”. Please note, if you elect to receive the funds yourself, a check will be cut and mailed to the PERMANENT address you list on your PLUS application. This process may take up to 7 to 10 business days after disbursement. Direct deposit of funds is not available for direct parent refunds.
