PLUS Loans

Are you frustrated with having to issue paper checks to parents for unused PLUS loans? You are not alone. Recently Higher One has received inquiries relating to the process of disbursing PLUS loan funds. Higher One can help!

The process of issuing paper checks is costly. There are the costs of paper, printing, postage, collating plus the reconciliation of each payment, address returns, and inquiries from parents. There are even more costs to consider in the event that errors are made in the amount of the check. Each of these cases leads to stop payment fees and general service needed to rectify the problem.

Higher One Clients are always looking for ways to streamline the funds disbursement process. Join the other Higher One clients that are using the OneDisburse^® process to deliver parent PLUS refunds directly to students.

Streamlining the PLUS loan refund process is simple!

Update current financial aid forms to allow parents to send PLUS Loan refunds to students.
Tag student records to identify those eligible to receive PLUS Loan refunds.
Institution sends refund file and corresponding wire to Higher One and the PLUS Loan refunds are disbursed as if it were a financial aid refund utilizing student preference.

As a result of streamlining the process, both Texas Women’s University and Eastern Michigan University have experienced the following benefits:

95% of parents opt to send students PLUS funds through Higher One.
Save costs of issuing checks and printing.
Save time in printing and distributing checks.