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Refunds - Parent Plus

Overpayment refunds are not released until at minimum three (3) days after the conclusion of the drop/add period for the term or session and only once the account is actually overpaid with disbursed funds.  Please plan accordingly for expenses, such as books, at the beginning of the term or session.

What is a Parent Plus Loan?

Parent Plus Loans are loans a parent can take that are used to help pay a student's expenses at Kutztown University.  These loans are applied for at www.studentloans.gov by the parent.  The parent upon approval would need to sign a Master Promissory Note (MPN) with their FAFSA (US Dept of Ed) pin # (not the student's).  The loan repayment is the responsibility of the parent.

Who gets refunds on the students account?

When a students account is overpaid, a refund is issued (no sooner than three {3} days after the conclusion of drop/add).  If the overpayment is caused by:

  • Aid in the student's name, the refund is released to the student (following the Golden Bear Debit Card refund program and preferences). 
  • The disbursement of the Parent Plus loan - the refund must go to the parent who took the loan.  Parent Plus refunds are currently only issued as a paper check, and mailed to the parent's address.

Additionally, a parent at the point of application can designate if refunds should go to the student OR the parent.  That selection will be processed by Financial Aid and entered into the system to refund accordingly.

Can I give permission to have a Parent Plus refund released to my son/daughter?

Yes.  A parent has the right to request Kutztown University to release this refund to the student instead.  This release form must be completed, and returned, prior to the disbursement of the Parent Plus loan to guarantee the processing of the refund to the student.  If received after the disbursement, but prior to the refund, we will do our best.  Once a refund is processed it cannot be reversed and re-issued.  Submission instructions are on the form.

We would recommend the Parent Plus release form be used, if the parent elected the refund to go to the parent, and changed their mind after the loan application.

Is there a benefit to refunding the student or parent?

This certainly depends on many factors.  How quickly do you need the funds?  Are they for rent in an off campus situation?  Is it just reimbursement to yourself for book expenses?  You need to evaluate the needs and urgency on funding.

Remember, parent refunds are paper checks that are are mailed the parent who took the loan, and their address on the loan application.  Student refunds however, have 3 choices, 2 of which may be more quickly received.  Students have the option of Direct Deposit to a checking or savings account, they can use the One Account with Higher One (a FDIC insured bank account) using the Golden Bear Debit Card for access, or they too can choose a paper check.

If youare not sure about the best choice for your family and its needs, do feel free to contact us to discuss the options in more depth.  We are glad to help and offer choices!