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This document serves as an application and master promissory note for the Federal PLUS Loan, allowing graduate or professional students or parents of dependent undergraduate students to obtain loans
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How to fill out federal plus loan application

How to fill out Federal PLUS Loan Application and Master Promissory Note (MPN)
01
Visit the Federal Student Aid website.
02
Log in using your FSA ID.
03
Select 'Apply for a PLUS Loan' under the loans section.
04
Choose the appropriate type of PLUS Loan (Parent or Graduate).
05
Provide required personal information including Social Security number, date of birth, and address.
06
Indicate the loan amount you wish to borrow.
07
Complete a credit check (note that the outcome can affect your eligibility).
08
Review your loan terms and conditions carefully.
09
Sign the Master Promissory Note (MPN) electronically.
10
Keep a copy of your MPN for your records.
Who needs Federal PLUS Loan Application and Master Promissory Note (MPN)?
01
Parents of dependent undergraduate students who wish to borrow funds to help pay for college expenses.
02
Graduate or professional students who require additional funding beyond other federal student loans.
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People Also Ask about
Does signing the MPN mean you are accepting the loan?
What happens if I don't complete this? If you accept loans on your package and do not complete the MPN, you will not be able to move through your registration checklist and the aid will not disburse until it has been finished.
When taking out student loans What is the signed agreement?
A Master Promissory Note, or MPN, is a legal document that outlines the terms and conditions of your federal student loans. Promissory notes are used for all types of loans, like auto loans, mortgages, and personal loans, though an MPN is a special type of promissory note used exclusively for federal student loans.
How long does it take for MPN to process?
How long does it take for an MPN to process? After you submit your MPN to the US Department of Education, the government will then get in touch with your school's financial aid office to let them know that it's been completed. This process normally takes between 3 and 5 working days.
Does signing an MPN mean anything?
The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s).
Does a promissory note mean you got the loan?
A promissory note is a legally binding document in which the borrower agrees to repay the loan and any accrued interest and fees. The document also explains the terms and conditions of the loan. A signed, valid promissory note must be signed before loan funds can be disbursed.
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What is Federal PLUS Loan Application and Master Promissory Note (MPN)?
The Federal PLUS Loan Application is a form used to apply for a Parent PLUS Loan or Grad PLUS Loan, which are federal loans that help pay for education expenses. The Master Promissory Note (MPN) is a legal document in which the borrower agrees to the terms and conditions of the loan and promises to repay the loan with interest.
Who is required to file Federal PLUS Loan Application and Master Promissory Note (MPN)?
Parents of dependent undergraduate students and graduate or professional students who wish to borrow a PLUS loan are required to file the Federal PLUS Loan Application and the Master Promissory Note (MPN).
How to fill out Federal PLUS Loan Application and Master Promissory Note (MPN)?
To fill out the Federal PLUS Loan Application and MPN, borrowers must complete the online application on the Federal Student Aid website, providing personal, financial, and school information. After submitting the application, they must complete the MPN by signing it electronically, which includes agreeing to the terms of the loan.
What is the purpose of Federal PLUS Loan Application and Master Promissory Note (MPN)?
The purpose of the Federal PLUS Loan Application is to determine eligibility for the loan, while the Master Promissory Note (MPN) serves as a binding agreement between the borrower and the lender, outlining the borrower's responsibility to repay the loan under specified terms.
What information must be reported on Federal PLUS Loan Application and Master Promissory Note (MPN)?
The Federal PLUS Loan Application and MPN require information such as the borrower's Social Security number, driver's license number, financial information, the student's school information, and references. Additionally, borrowers must provide details regarding their credit history.
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