Help Article

Help Center > My Account/Manage settings > Why is my PayPal Student account being discontinued?

Ask the Community

Find answers or join the conversation in the Community Help Forum.

Why is my PayPal Student account being discontinued?

Unfortunately, PayPal has made a decision to discontinue the PayPal Student Account and PayPal Student Debit MasterCard products for all customers effective September 29th. However, the send money feature to transfer funds from the Student Account to the parent’s PayPal account will be available until November 15, 2016.
 
If the PayPal Student account has a remaining balance on November 15, 2016, the funds will be automatically moved by PayPal on that date to the parent’s PayPal account. 

PayPal Student Account
  • Effective September 29, 2016, PayPal Student accounts are no longer be able to make purchases online.  However, the send money feature to transfer funds from the Student Account to the parent’s PayPal account will be available until November 15, 2016. 
  • Effective November 15, 2016, the PayPal Student account will be closed. Customers will no longer be able to use their PayPal Student Account after this date.

PayPal Student Debit MasterCard
  • Effective September 29, 2016, the PayPal Student Debit MasterCard® card, and related services, are closed. Customers are no longer be able to use their PayPal Student Debit MasterCard after this date.

What happens to the money in the Student account balance?
Any money that was not spent from the PayPal Student account prior to September 29, 2016, can be moved by the parent to their PayPal account until November 15, 2016.  
 
Parents can log in to their PayPal account, find the module for student account, and click on their student’s name. This will take them to the “manage student” account page. Then they can click the radio button transfer money from ‘student’s name’ to your account. They can just enter the amount and click Transfer Money.
 
If the PayPal Student account has a remaining balance on November 15, 2016, the funds will be automatically moved by PayPal on that date to the parent’s PayPal account. 
 
Is the PayPal parent account associated with the PayPal Student Account still active?
Yes, only the Student Account and PayPal Student Debit MasterCard are closed. All other PayPal accounts and products are still active as normal.

Are there other PayPal products I can use to send money to my student?
At this time, we aren’t introducing a replacement for PayPal Student Accounts and PayPal Student Debit MasterCards. We will continue to explore ways to serve our younger population in the future. If the student is over 18 years old, we invite them to sign up for a PayPal account so they can enjoy the benefits PayPal offers, such as sending, receiving, and spending money online and in-stores. We appreciate your business and apologize for any inconvenience.
We’re sorry, the page you’re looking for is no longer available. Please try your search again in our Help Center if you have a question or want to contact us.