Disbursement - Receiving the Parent PLUS Loan
Student Account Services is the department that releases the Parent PLUS Loan funds after receiving the necessary information from the Office of Financial Aid and Scholarships.
We do not begin to prepare an approved Parent PLUS Loan for disbursement until all conditions listed below have been met:
- Student must have received a financial aid award.
- Student must be enrolled in at least 6 units.
- All financial aid holds must be cleared.
- Any Student Account Services holds must be cleared.
University charges and postponed payments
Basic tuition and fees, out-of-state tuition, and on-campus housing payments are deducted from the student's financial aid which includes the approved amount of Parent PLUS Loan. Any remaining Parent PLUS Loan funds are mailed to the parent borrower or, the parent borrower may authorize any remaining loan funds to be deposited directly to the student's designated bank account.
The student is responsible for paying any additional charges because of adding a class or a change of housing type or meal plan.
If the student's financial aid funds are not sufficient to pay all charges for the semester, the student is responsible for making the payments as they become due.
Earliest disbursement time
If you apply and complete the Parent PLUS Loan process by August, and all the required conditions are met, you may receive the Parent PLUS Loan funds at the beginning of the semester. Learn more about financial aid disbursement.
One-half of the Parent PLUS Loan is disbursed during the fall and the second half during the spring. Plan ahead and request the full amount you will need for the entire academic year. Increases are limited to one per semester.
You're Approved - Now What?
If you applied by August, and all conditions are met, half of the loan amount will be available at the beginning of each semester.