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Directions for the Federal Direct Parent PLUS Loan

Directions for the Federal Direct Parent PLUS Loan

Instructions for parents of first year students, transfer students, and first time borrowers

Complete the following steps to satisfy all requirements for Federal Direct Parent PLUS Loan

 

  1. Review your Financial Aid Award Notification Letter and cost sheet to determine the estimated loan amount. (There is a 4.2% processing fee. Please consider this when requesting the loan amount.)

 

  1. If you are accepting your Federal Direct Parent PLUS Loan, the parent taking the loan must complete the following instructions:

 

  • The parent will need a FSA ID to complete the request and the eMPN (Electronic Master Promissory Note). To complete the request and eMPN, go to gov. 
  • Click on “Log In” and enter the parent’s FSA ID and password.
  • Once logged in, click on “APPLY FOR AID”, then select “Apply for a Parent PLUS Loan”. Please read the directions carefully. To complete the Direct Parent PLUS loan, you will need:

 

  • Approximately 30 minutes to complete. You must complete the request and eMPN in one session.
  • You will need your FSA ID. If you do not already have one, you can apply for one at https://fsaid.ed.gov.
  • Personal information required: permanent address, mailing address (if different from permanent address), telephone number, email address, alien registration number (if you are an eligible non-citizen), along with the name, address, and phone number of two personal references. 
  • Student information required: student’s full name, SSN, and date of birth.
  • Employer information required: employer name and address.

 

  • Once the credit check has been completed, you can now complete the eMPN. Select “Complete Master Promissory Note”. Then, select “Parent PLUS MPN”.   Please read and follow directions carefully.  Both steps must be completed in order for the Parent PLUS loan to be processed.

             

  

Directions for the Federal Direct Parent PLUS Loan:

Instructions for the parent (previous borrower) of currently enrolled students

Complete the following steps to satisfy all requirements for Federal Direct Parent PLUS Loan

 

  1. Review your Financial Aid Award Notification Letter and cost sheet to determine the estimated loan amount. (There is a 4.2% processing fee. Please consider this when requesting the loan amount.)

 

  1. If you are accepting your Federal Direct Parent PLUS Loan, the parent taking the loan must complete the following instructions:

 

  • The parent will need a FSA ID to complete the request.
  • To complete the request, go to gov.
    1. Click on “Log In” and enter the parent’s FSA ID and password.
    2. Once logged in, click on “APPLY FOR AID”, then select “Apply for a Parent PLUS Loan”. Please read the directions carefully.

 

             Helpful tips:

  • Either parent may apply for a Parent PLUS loan regardless of which parent’s information is on the FAFSA. However, it must be a biological, adoptive, or step-parent. 
  • The parent applying for the loan must have a FSA ID in order to complete the loan process.
  • If you need to make any future adjustments to loan amounts, you must submit a completed and signed Parent PLUS Loan Change form to the Financial Aid Office for processing.
  • Endorsed Loans require a new MPNS each academic year.
  • If your Parent PLUS loan is denied, the student can be awarded additional Unsubsidized Stafford loan. However, you do have the following options: 
    • You can appeal the denial decision by contacting Applicant Services.
    • You may pursue an endorser application. If you have any questions concerning this process, please call Applicant Services.

 

Applicant Services for Direct PLUS Loan Borrowers

8 a.m. – 8 p.m. (ET) Monday-Friday

800-557-7394


 

Please contact our office if you have any questions:

Financial Aid Office

PO Box 947

Emory, VA 24327

276-944-6940

E-mail: ehfinaid@ehc.edu