Form -- Rapid Refund Plan(Parent)

What is the RAPID REFUND PLAN?

The RAPID REFUND PLAN will automatically deposit a refund amount from the Student Account to your bank account each time there is an available credit balance (in excess of $2) resulting from a PLUS loan. If you would like the refund to be deposited into your son or daughter's bank account, please enter his or her bank account information on the Authorization Agreement. You will receive a notification of each transaction by mail.

Why should I enroll in the RAPID REFUND PLAN?

Enrolling in the RAPID REFUND PLAN has many advantages. Convenient transfers of refund balances means no more requesting, or waiting to receive, a refund check. You will no longer need to be concerned with cashing or depositing your refund check. Your funds will be automatically transferred into your bank account and available for your immediate use. There is no charge for this service.

How do I start RAPID REFUND?

To start RAPID REFUND, complete and return the Authorization Agreement and attach a voided check. For savings accounts, please contact your financial institution for assistance in completing the form. When we receive your Authorization Agreement, we will enroll you in our RAPID REFUND PLAN. The next refund you receive will be deposited directly into the designated bank account.