Federal Direct Parent PLUS Timeline to Disbursement
Loans as a Credit on Your Student Account Statement
Billing begins in early August for fall semester, January for spring semester, and May for summer semester. Your Direct Parent PLUS loan will appear as anticipated aid on your student's account statement once the following have been completed:
- Your student has met the minimum eligibility requirements
- You have completed your Federal requirements (loan application approved and MPN has been signed)
- You and your student have complied with verification (if selected)
- If you have been approved for the PLUS loan with an Endorser, you must be sure that the endorser completes the "Endorser Addendum" and you have completed your "PLUS Credit Counseling" in addition to the MPN
Note: Direct Parent PLUS loans do not have to be accepted in LionPath by the student.
I Didn't Borrow Enough - Loan Increases
For Same Borrower and Same Loan Period for the Same Student
To increase a loan amount for the same borrower, same loan period, for the same student, you can submit a new application or select the option to "Change the application."
If you choose to change the application:
- Include the Reference Number of the application that you wish to modify.
- Enter the new total that you want to request not the additional amount you are requesting.
For Same Borrower for Different Loan Period and/or Different Student
To increase a loan amount for the same borrower for a different loan period and/or different student: select the "New application option;" you cannot make a change to the original application.
I Borrowed Too Much - Loan Decreases
If you want to decrease the amount of your Federal Direct PLUS Loan, sign in to studentaid.gov and request the new (total) amount on your original application—do not submit the amount you wish to decrease the loan by.
If you wish to cancel your Federal Direct PLUS Loan, please contact us.
Per federal regulation, we can begin the disbursement process of federal funds no earlier than 10 days prior to the semester start date. Summer loans will not disburse at the beginning of the semester. The disbursement date for Summer is 10 days prior to the start of Session II. Short term loans are available at your campus aid office for students who have started their classes in May and are expecting a refund to pay for living expenses.
Student's attending an Education Abroad program will have their loan(s) disbursed in two separate disbursements per federal regulation. For Summer 2019, those dates will be June 17th and June 24th.
- You will receive your loan disclosures from your federal direct loan servicer indicating that the first date of the semester will be your actual disbursement date, however, this is only an estimated date of disbursement.
- The process to request Federal Direct Loan funds and disburse them into your student's Financial Account will take approximately 3-5 business days.
- Be aware that once the funds disburse, they will no longer show as anticipated aid. However, within the same day, you will see the funds posted to your student's Financial Account.
- Have the student monitor their PSU email for messages regarding aid disbursement and refunds.
- If you have been granted access to the student's LionPATH account, you can monitor for updates in the student's Financial Account.
- Monitor your National Student Loan Database System (NSLDS) information (by logging into studentaid.gov), for Direct PLUS Loan disbursement updates and loan servicer assignments.