PLUS Loan account billing and refund disclosure policy and form

(Please see required form below.)

You are applying for a Direct PLUS Loan and as mandated by federal regulation, Augustana College is required to notify you of its billing and crediting procedures and to obtain your permission to pay certain charges.

Your son/daughter will have access to his/her e-bill prior to the start of each semester. The e-bill statement will/may include charges for tuition, fees, music lessons, housing, meal plan and miscellaneous fees such as library fines, insurance, parking fines and minor prior-year charges.

You have two options regarding what charges you wish your Direct PLUS Loan to cover:

1. You may request that the Direct PLUS Loan cover only the current-year charges of tuition, fees, music lessons, housing and meals.

If you choose this option, all remaining charges are immediately due and payable in the Business Office. If these miscellaneous charges remain unpaid, a Business Office hold may be placed on the student’s registration and transcripts.

2. You may request that the Direct PLUS Loan cover current-year charges of tuition, fees, music lessons, housing, meals and all miscellaneous fees.

Occasionally the student’s other financial aid, in addition to the Direct PLUS Loan for the semester, exceeds the total charges for the semester, creating a credit balance on the student’s account.

You have the option either to keep that credit on the student’s account or request any credit balance be returned to you.

You must complete Sections A and B of the authorization form below regarding your Direct PLUS Loan proceeds. A statement of credits and charges will be available to you at any time at the Business Office.

You have the right to rescind your permission to retain excess balances on the student’s account and/or to have charges other than tuition, fees, music lessons, housing and meals paid for with funds other than the Direct PLUS Loan. If you wish to rescind your authorization at a later date, you may do so by contacting the Business Office at 309-794-7390.