Federal Direct Parent PLUS Loan

Federal Direct Parent PLUS Loans are fixed-rate loans available to parents of degree-seeking dependent undergraduate 学生s enrolled at least half-time in courses that are degree-applicable. 的 annual limit on a Parent PLUS loan is equal to the 学生's cost of attendance minus any other 金融援助 the 学生 receives. For example, if the cost of attendance is $40,000 and the 学生 receives $22,000 in other 金融援助, the 学生's parent can request up to $18,000.

1. Have 你的 Student Complete the FAFSA

你的 学生 必须完成 Free Application for Federal Student Aid (FAFSA) to determine loan eligibility.

2. Have your Student Record his/her eAward Decision

Have your 学生 access hi/her 金融援助 来自myCU的信息.

• Select the aid year that you wish to review at the 'Select an Award Year' field.
• Click on ‘Review and accept your 金融援助 Award Package’ under the Checklist section.
• 注意: All the steps on the checklist prior to this must be completed first.
• Review the direct loans that are part of your 金融援助 package and record your decision.
• 注意: For the Parent PLUS loan, be sure to have the borrowing parent complete step #5 in order for the Parent PLUS loan to reflect the desired amount and term on your Self-Service 金融援助 account.
• After you ‘Accept’ or ‘Decline’ the loan(s), you will be able to see the immediate changes in your eAward.
• 注意: If, 在以后的日子, you change your mind regarding an ‘Accepted’ or ‘Declined’ loan, you CANNOT change it in your Self-Service account. 要改变 贷款状态 OR 量, 请 回顾我们的 FAQ on Loans (Types, Fees, Limits, Repayment) page for further instructions.

3. 沙巴体育 for a Parent PLUS Loan

提醒: 同一父母必须 完成步骤3-5. Failure to do so will result in delayed processing and possible late fees and interest applied to the 学生’s bill.

Beginning late April for the upcoming academic year，您将登录到 学生aid.政府 using your parent FSA ID to  沙巴体育 for a Parent PLUS Loan each time you decide to borrow.

• 沙巴体育ing for a PLUS Loan triggers a basic credit check
• Once the PLUS application is submitted, you will immediately receive a credit decision of either 'Accepted' or 'Declined.'

注: 的 comments below are to help provide clarification on questions within the Parent PLUS Application.

• 贷款延期: If a parent answers “yes” to defer repayment on the PLUS loan and “yes” to defer for six months, then the loan will not enter repayment until six months after the 学生 graduates or is no longer enrolled at least half-time. If a parent answers “no” to defer repayment, then the loan will enter repayment as soon as the full loan amount is disbursed.
• 数量要求: Select “maximum amount.” 的 official loan amount utilized by the 金融援助 Office is determined by the PLUS Authorization Form (step 5), not the PLUS Application. 要改变 initial requested amount of the PLUS loan after the Authorization Form is submitted, 请参阅“有关贷款的常见问题.”
• Credit balance refund: 的 "credit balance refund” question on the Parent PLUS Application is not used by Cedarville. 的 credit balance refund, whether to the parent or the 学生, must be set up with the Cashier’s Office with the appropriate banking information on where the funds are sent.

4. Complete the PLUS Master Promissory Note

提醒: 同一父母必须 完成步骤3-5. Failure to do so will result in delayed processing and possible late fees and interest applied to the 学生’s bill.

If you received an 'Accepted' credit decision when applying for a PLUS loan, you must also complete the 家长+ MPN at 学生aid.政府.

注意: Parent + MPN是 both parent and 学生 specific and is normally good for 10 years.

5. 完整的斯德维尔的 Parent PLUS Authorization Form

提醒: 同一父母必须 完成步骤3-5. Failure to do so will result in delayed processing and possible late fees and interest applied to the 学生’s bill.

完整的斯德维尔的 Parent PLUS Authorization Form to specify the 学生, loan 量, and loan term(s) for your requested Parent PLUS loan.