Get the free Federal Direct PLUS Loan Data Form - eiu

This form is used by parents to request a Federal Direct PLUS Loan for their undergraduate student at Eastern Illinois University, providing necessary details about the student and parent for loan

How to fill out federal direct plus loan

How to fill out Federal Direct PLUS Loan Data Form

1. Obtain the Federal Direct PLUS Loan Data Form from the official website or your school's financial aid office.
2. Ensure you have personal identification information ready, such as your Social Security Number and driver's license number.
3. Fill out the applicant's information section with your full name, permanent address, and contact information.
4. Provide the student's information that the loan is intended for, including their full name, Social Security Number, and date of birth.
5. Indicate your relationship to the student (e.g., parent, graduate student).
6. Review the loan amount requested and input it in the designated section.
7. Make sure to read the terms and conditions carefully before agreeing to them.
8. Sign and date the form.
9. Submit the completed form according to the instructions provided, either online or via mail.

Who needs Federal Direct PLUS Loan Data Form?

1. Parents of dependent undergraduate students who wish to borrow money to help pay for their child's education.
2. Graduate or professional students who require additional funds beyond what is offered through other federal loans.

People Also Ask about

What are the disadvantages of a direct PLUS loan?

What Are Some Reasons to Avoid PLUS Loans? First, PLUS loans have no automatic grace period. Then there's the fact they aren't eligible for most IDR plans. Then, borrowing too much is easy to do, and finally, they're nearly impossible to get out of, even in bankruptcy.

How to get approved for Direct PLUS loan?

To qualify for a PLUS loan, you must: Be the biological or adoptive parent of the student. Ensure that your student is enrolled at least half-time at an eligible school. Fill out the Free Application for Federal Student Aid (FAFSA) along with your child. Meet the general eligibility requirements for federal student aid.

Can you be denied a direct PLUS loan?

PLUS loans don't require good credit, making them an ideal option for low-credit borrowers. However, you can't have an adverse credit history, such as bankruptcies or loan defaults within the past five years.

How to qualify for a direct PLUS loan?

If you're a parent or graduate student seeking a Direct PLUS Loan, one of the requirements to qualify is that you must not have an adverse credit history. If your application is denied because of an adverse credit history, don't give up. You still have options.

What is the difference between a direct loan and a PLUS loan?

The main difference between the Direct student loans offered to undergraduates and the Direct PLUS Loans offered to parents is that certain Direct Loans (Direct Subsidized Loans) for undergraduates are awarded based on financial need, whereas the PLUS loans are not awarded based on financial need, but do require a

How hard is it to get approved for a parent PLUS loan?

Adverse Credit History Credit history is a major factor in being approved for this loan. To qualify for a PLUS loan, you cannot have an adverse credit history. Credit history is a summary of your financial strength, including your history of paying bills and your ability to repay future loans.

What is a federal PLUS loan?

GLOSSARY. Direct PLUS Loans are federal loans that graduate or professional students and parents of dependent undergraduate students use to help pay for education expenses. Like Direct Subsidized and Unsubsidized Loans, these loans have a fixed interest rate.

What are the disadvantages of a direct PLUS loan?

What Are Some Reasons to Avoid PLUS Loans? First, PLUS loans have no automatic grace period. Then there's the fact they aren't eligible for most IDR plans. Then, borrowing too much is easy to do, and finally, they're nearly impossible to get out of, even in bankruptcy.

What is the difference between a federal direct loan and a federal PLUS loan?

Like Direct Subsidized and Unsubsidized Loans, these loans have a fixed interest rate. Note that Direct PLUS loans are unsubsidized, meaning that interest accrues throughout the life of the loan, including while the student is enrolled in school.

Are direct PLUS Loans eligible for forgiveness?

Direct PLUS Loans for Parents These loans are eligible for PSLF only if they've been consolidated into a Direct Consolidation Loan and are being repaid under the Income-Contingent Repayment (ICR) plan.

For pdfFiller’s FAQs

What is Federal Direct PLUS Loan Data Form?

The Federal Direct PLUS Loan Data Form is a document used by graduate students and parents of dependent undergraduate students to apply for a PLUS loan, which helps cover educational costs not met by other financial aid.

Who is required to file Federal Direct PLUS Loan Data Form?

Graduate or professional students and parents of dependent undergraduates are required to file the Federal Direct PLUS Loan Data Form to qualify for a PLUS loan.

How to fill out Federal Direct PLUS Loan Data Form?

To fill out the Federal Direct PLUS Loan Data Form, applicants must provide personal information, including Social Security number, date of birth, the financial aid information for the student, and details about their credit history.

What is the purpose of Federal Direct PLUS Loan Data Form?

The purpose of the Federal Direct PLUS Loan Data Form is to collect necessary information to assess eligibility for PLUS loans and determine the borrower's creditworthiness.

What information must be reported on Federal Direct PLUS Loan Data Form?

The Federal Direct PLUS Loan Data Form requires reporting personal identification information, the student's school information, loan amount requested, and certain financial information related to the borrower's credit history.