Student Loans

QHow Is The Money Disbursed To Me (plus Loan)?
AOnce your PLUS loan has been approved and certified by all parties Ö school, lender, guarantor Ö the loan amount is generally disbursed in two installments. If you agreed to the Electronic Funds Transfer (EFT) on your application, funds from the lender will be distributed directly to the school. The school will then apply funds to your childÒs outstanding expenses, including tuition, fees, room/board and other school charges. Any remaining amount from that disbursement will be sent to you directly, unless you authorize payment to your child or to his/her school account. By law, this money is to be used solely for expenses relating to your childÒs education.