Get the free Parent’s PLUS Refund Authorization - regis

This form is used by parents to authorize Regis University to disburse any PLUS loan credit balance to their dependent child instead of the parent borrower.

How to fill out parents plus refund authorization

How to fill out Parent’s PLUS Refund Authorization

1. Obtain the Parent's PLUS Refund Authorization form from the financial aid office or college website.
2. Fill in the student's name, identification number, and the parent's details in the appropriate sections.
3. Indicate the specific refund amount to be authorized for disbursement.
4. Sign and date the form to verify authorization.
5. Submit the completed form to the financial aid office or designated department at the institution.

Who needs Parent’s PLUS Refund Authorization?

1. Parents of students who have taken out a Parent PLUS loan and wish to authorize the refund of any excess loan funds.
2. Parents who want to ensure that the refunded money is directed to a specific account or used in a particular way.

People Also Ask about

What does refund plus to parents mean?

If a refund due to the student is the result of a PLUS loan payment, and the parent did not indicate that the funds may go directly to the student, the refund is processed as an automatic check payable to the PLUS borrower instead of the student.

What is the loophole in parent PLUS loans?

In addition, parent PLUS loans aren't eligible for some other types of federal student loan forgiveness programs. To get around this, some borrowers go through two or more federal consolidations to hide the origin of the loans, then request an IDR plan. This process is often called the double consolidation loophole.

Do students have to pay back parent PLUS loans?

Can the loan be transferred to the student? No, a Direct PLUS Loan made to a parent cannot be transferred to the child. You, the parent borrower, are legally responsible for repaying the loan.

What happens to the leftover money from a parent PLUS loan?

Direct PLUS Loans for Parents If there is money left over, the school will pay it to you. In some cases, with your permission, the school may give the leftover money to your child.

Can I get a refund on a parent PLUS loan?

A refund is issued to the parent-borrower 7-10 days after the loan has been disbursed to the student's account. The parent-borrow may elect to receive their refund via Digital Disbursement via Zelle or by Paper check.

What happens to unused student loan money?

Another important rule is that any unused student loan money must be returned to the lender within a specific timeframe, typically within 120 days from the loan's disbursement date. Otherwise, interest will begin accruing.

Do parent PLUS loans get refunded?

A refund is issued to the parent-borrower 7-10 days after the loan has been disbursed to the student's account. The parent-borrow may elect to receive their refund via Digital Disbursement via Zelle or by Paper check. The default refund method will be via paper check.

Where does the parent PLUS loan money go?

The school will first apply parent PLUS loan funds to the student's school account to pay for tuition, fees, room and board, and other school charges. If any loan funds remain, your child's school will give them to you to help pay other education expenses for the student.

For pdfFiller’s FAQs

What is Parent’s PLUS Refund Authorization?

Parent’s PLUS Refund Authorization is a form that allows parents of dependent undergraduate students who have taken out PLUS loans to authorize the school to apply any refunds from their student account towards other educational expenses or to disburse those funds to the parents.

Who is required to file Parent’s PLUS Refund Authorization?

Parents who have taken out Parent PLUS loans on behalf of their dependent undergraduate children and wish to manage refunds or disbursements related to those loans are required to file the Parent’s PLUS Refund Authorization.

How to fill out Parent’s PLUS Refund Authorization?

To fill out the Parent’s PLUS Refund Authorization, parents should provide their personal information, details of the PLUS loan, the student's information, and specify how they would like the refunds to be handled, including whether they want the funds applied to other educational costs or directly refunded to them.

What is the purpose of Parent’s PLUS Refund Authorization?

The purpose of Parent’s PLUS Refund Authorization is to ensure that parents have control over how any potential refunds from the student account are handled, allowing them to either apply it towards other educational expenses or receive it directly.

What information must be reported on Parent’s PLUS Refund Authorization?

The information that must be reported on the Parent’s PLUS Refund Authorization includes the parent's name, contact information, student’s name and ID, details of the PLUS loan, and the preferred method of disbursement for any refunded amounts.