Who Can Apply for a PLUS / Grad PLUS Loan?
Graduate and professional students may apply for "Grad" PLUS Loans for their own expenses.
New for 2011-2012: Congress changed the regulations for the PLUS program to mandate that parents must complete the FAFSA BEFORE schools can certify a PLUS Loan. These regulations go into effect with the 2011-2012 academic year.
We strongly encourage all graduate and professional students to complete the FAFSA and maximize their eligibility under the Direct Stafford Loan Program before borrowing under the Grad PLUS Program.
Federal Direct PLUS / Grad PLUS Application Instructions
Obtain your Federal Student Aid PIN: www.pin.ed.gov
Your Federal Student Aid PIN is used each year to electronically sign your student's FAFSA form online. If you do not know your pin, you can request a duplicate, using the website above. Because this 4 digit number is needed to apply for your Federal Direct PLUS loan, you cannot proceed without it.
Remember this is the Parent's PIN not the Student's.
Visit www.studentloans.gov to apply for your federal Direct Parent Loan for Undergraduate Students (PLUS) or Grad PLUS loan.
On the left side of the page, use the green "Sign In" button to begin your application process.
The next page will allow you to enter your identifying information and your (parent's)Federal Student Aid Pin.
After signing in, you will need to complete 2 steps to begin the Master Promissory Note.
1.Choose the "Start PLUS Application Process" link to begin.
2. Confirm your email address for future correspondence. Please choose the email address you are most likely to use during and after your time at Loyola University New Orleans.
Click on Request a PLUS Loan . Choose your loan type:
Parents choose "Parent PLUS" Graduate Students choose "Graduate PLUS"
Complete parent borrower information
Complete student information and decide how much you wish to borrow on the following screen:
If you should borrow more than your bill a credit balance will be created. Please use the item below to tell us who should receive that credit balance. It is important that you confirm who will be receiving the credit as a refund .
It is very important that you figure the amount you wish to borrow correctly. You may only borrow up to, but not more than , the cost of attendance minus any financial aid your student is receiving. We have created a "Calculating the Bottom Line" worksheet to help you plan.
Continue the application and submit it to go through a credit check by the U.S. Department of Education.
Once we receive notice that you have completed the federal Direct PLUS process we will originate (or certify) your loan. The U.S. Department of Education will send you a disclosure statement with the details of your loan. You will also receive a confirmation letter from the Financial Aid Office. Once your funds have been disbursed to your student's account, you will receive notice from the Student Accounts Office.
After we receive notice that you have completed the federal Direct PLUS application process we will originate (or certify) your loan. The U.S. Department of Education will send you a disclosure statement with the details of your loan. You will also receive a confirmation letter from the Financial Aid Office.
You might also be interest in checking these pages within our web site:
- General Information for Parents
- General Information for Graduate and Professional Students
Thanks to the financial aid staff at Swarthmore College for creating the basic template for this page.
Updated June 29, 2011