CREDIT BALANCE FROM PLUS LOANS
Regulations require that any excess PLUS loan funds be returned to the parent, if the PLUS loan funds created the credit balance. Student Financial Services determines which funds create a credit balance on a student’s account. In the case where the PLUS loan is the only loan on file or exceeds the total aid for a student any resulting credit balance will be refunded to the parent who took out the loan. If a parent wishes to have the funds proceeds from a PLUS loan to be given directly to the student the parent must authorize the Office of Student Accounts in writing to transfer the proceeds of a PLUS loan directly to the student. In cases where the student’s non tuition specific financial aid exceeds the amount of a parent PLUS loan all resulting credit balances will be refunded to the student.