Loan Disbursement Process
The loans are disbursed after enrollment and eligibility verification is reviewed. 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 the first day of class. Visit our disbursement page regarding what may prevent disbursement.
Any resulting credit balance will be issued to students in accordance with their refund preference selected on BankMobile. For more information about Bankmobile, visit this link : http://bankmobiledisbursements.com/refundchoices/
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 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 during the academic year. If the student is only enrolling in one semester, the student may receive the funds in two disbursements during the semester.
Notification will be emailed 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.