Why are you closing my PayPal Student account and PayPal Student Debit Mastercard?

Do you have a replacement product?
At this time, we aren’t introducing a replacement for PayPal Student accounts and the PayPal Student Debit Mastercard.  If the student is at least 18 years old, or the age of majority in their state of residence, they may open a U.S. PayPal account and use PayPal. 
How will the balance in my account be handled?

For PayPal Student accounts that hold a balance, we’ll transfer the money to the associated Parent account, provided the Parent account is unrestricted.  We’ll then close the Student account.  For restricted or closed Parent accounts, please see the next question.
The associated Parent account is restricted or closed.  How can I transfer the money from the Student account?
If a PayPal Student account holds a balance, and the associated Parent account is restricted or closed, we’ll transfer the money from the Student account to the owner of the associated Parent account. We’ll use a PayPal online payment service called Hyperwallet. You’ll receive a notification with instructions on how to claim your funds within 10 days of receiving the initial email notification from PayPal.