7. PLUS Loans
Beginning July 1, 2010, all Parent PLUS loans will be directly from the Federal Government through the William D. Ford Student Loan Program. Please consult your student's Award Letter to determine how much of a loan you would like to take.
As a parent, you may make up the difference your student will need to pay his/her college bill.
Please follow these steps to apply for a Parent PLUS loan on-line.
- You must complete an application for credit . You may do that at studentloans.gov/myDirectLoan/index.action Under MANAGE MY DIRECT LOAN heading, sign in or to complete the PLUS request process. This process will access your financial history to determine if you qualify for a Parent PLUS loan.
- If for any reason your credit is not approved, your student may qualify for an additional $4,000 - $5,000 for the academic year.
- Once your credit is approved please fill out a master promissory note (MPN) at studentloans.gov/myDirectLoan/index.action
- Once the MPN is complete, the last step is to fill a Parent PLUS Loan Data Sheet in order to request your loan amount. The Financial Aid Office will be happy to help you to determine the loan amount you may need to help your student pay his or her college bill. You may also refer to our Financial Aid Handbook, Semester Fee Schedule, and other resources to determine what the cost will be for your student.