Loan Disbursement Process
The loans are disbursed after enrollment and eligibility verification is reviewed on a student by student basis. Loans will be credited toward the student’s university account after all required documentation is received and awards have been accepted in MyUHV. The loan will be credited toward the student’s account no earlier than 10 days prior to the frist day of class. Any resulting credit balance will be issued according to the mode of delivery the student chooses when activating his/her Jaguar Card. Modes of delivery include funds being applied to the Higher One Account (Jaguar Card), funds electronically sent to the student's bank account of choice, or a check be mailed to the address on file in the student's Higher One profile. Parents can choose a Credit Balance Option when completing the PLUS Loan Request Process. The Credit Balance Options are to either have the credit balance to be paid to the parent borrower or to the student.
The loan may be disbursed in two equal payments if the student anticipates enrolling for more than one semester. If the student is only enrolling in one semester, the student may receive the funds in two equal disbursements during the semester.
Notification will be mailed to the student making them aware of when the loan was credited to their account and how much was disbursed. You have the right to cancel all or a portion of the loan(s) by contacting our office within 14 days of the date the student was notified of his/her loan disbursement. The funds will be returned to the Department of Education.