Get the free Federal Direct Parent PLUS Loan Request Form - osfa.uga.edu - osfa uga

ResetFormVER143201718PrintReturn Completed Form To: Office of Student Financial Aid 220 Holmes/Hunter Academic Building Athens, Georgia 306026114 Tel: (706) 5426147 Fax: (706) 542821720172018 Independent

How to fill out federal direct parent plus

How to fill out federal direct parent plus:

1. Visit the official government website: Start by visiting the Federal Student Aid website, which is the official government resource for applying for federal student aid programs. Look for the section specifically related to the Federal Direct Parent PLUS loan.
2. Gather necessary documents: Before beginning the application, gather all the required documents. This usually includes your Social Security number, driver's license or identification card, income tax returns, and information about your financial situation.
3. Create an FSA ID: If you don't already have one, you will need to create a Federal Student Aid Identification (FSA ID). This serves as your username and password for accessing and signing the online application.
4. Start the application: Begin by filling out the Free Application for Federal Student Aid (FAFSA) form, as this is a prerequisite for the Federal Direct Parent PLUS loan application. Provide accurate information about your income and assets.
5. Indicate interest in the PLUS loan: Within the FAFSA form, you will come across a question asking if you are interested in the Federal Direct Parent PLUS loan. Make sure to answer "Yes" to indicate your interest in applying for this loan.
6. Access the PLUS loan application: After completing the FAFSA, you will be redirected to the online PLUS loan application. Here, you will provide additional information about yourself, including your contact details and the student's information.
7. Choose the loan amount: Decide on the loan amount you want to borrow. Keep in mind that you should borrow only what is necessary to cover educational expenses and not exceed the cost of attendance.
8. Complete the Master Promissory Note (MPN): The MPN is a legal document that outlines the terms and conditions of the loan. Read and agree to the terms before signing it electronically.
9. Review and submit: Review all the information provided in the application before submitting it. Make sure everything is accurate and correct any errors if necessary.
10. Receive notification: After submitting the application, you will receive notification of your loan approval or denial within a few days. If approved, you will be provided with instructions on the next steps to complete the loan process.

Who needs federal direct parent plus:

1. Parents of dependent undergraduate students: The Federal Direct Parent PLUS loan is specifically designed for parents or legal guardians of dependent undergraduate students. It provides additional financial aid options to help cover the cost of college education.
2. Students not eligible for other aid: If the student has exhausted other forms of financial aid, including scholarships, grants, or federal student loans, the parent may consider applying for the Federal Direct Parent PLUS loan to bridge any remaining gap in funding.
3. Parents with strong credit history: The parent borrower must have a good credit history to be eligible for the Federal Direct Parent PLUS loan. It is important to note that credit checks are conducted during the application process, and an adverse credit history could affect loan approval.
4. Parents willing to take responsibility for repayment: The Federal Direct Parent PLUS loan is the responsibility of the parent borrower, not the student. Parents need to understand that they will be legally obligated to repay the loan, and they should carefully consider their financial ability to take on this responsibility.

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