Get the free Federal Direct Parent PLUS Loan Request 2016-2017 - lasierra

ID #: PHONE: NAME: Federal Direct Parent PLUS Loan Request 20162017 DECLINE PLUS Loan ***Please skip this section and complete Parts 1, 2 and 3 below ONLY if parent is requesting loan or student plans

How to fill out federal direct parent plus

How to fill out federal direct parent plus:

1. Visit the official website of the U.S. Department of Education's Federal Student Aid (FSA) office.
2. Locate the online application form for the federal direct parent plus loan.
3. Start the application process by providing your personal information, including your name, social security number, and contact details.
4. Verify your eligibility by confirming that you are the parent or legal guardian of a dependent undergraduate student enrolled at least half-time in an eligible college or university.
5. Provide information about the student for whom you are seeking the loan, including their name, social security number, and school details.
6. Indicate the loan amount you wish to borrow and specify the loan period (usually covering one academic year).
7. Complete the financial information section, including details about your income, assets, and any other financial aid or scholarships the student will receive.
8. Review the terms and conditions of the federal direct parent plus loan, including interest rates and repayment options.
9. Electronically sign and submit the application form.
10. Await a credit check to determine your eligibility for the loan. Approval may take a few days.
11. If approved, you will receive a loan disclosure statement outlining the loan amount, interest rate, and other relevant details. Carefully review this information.
12. If you choose to accept the loan, complete the Master Promissory Note (MPN), which is a legal document stating your obligations as the borrower.
13. The loan funds will be disbursed directly to the school, usually in two installments, to cover educational expenses for the designated academic period.
14. As the parent borrower, you are responsible for repaying the federal direct parent plus loan. Repayment typically begins within 60 days after the loan is fully disbursed, but you can request a deferment while the student is enrolled at least half-time.
15. Make timely payments according to the chosen repayment plan and keep track of any future communication from the loan servicer or the FSA office.

Who needs federal direct parent plus?

1. The federal direct parent plus loan is designed for parents or legal guardians of dependent undergraduate students.
2. The loan helps cover the cost of educational expenses that are not fully met by other financial aid, scholarships, or the student's own resources.
3. Parents who are willing and eligible to take on the responsibility of repaying the loan can benefit from the federal direct parent plus program.
4. It can be an option for parents who want to support their child's education but may not have sufficient savings or income to pay for all the expenses upfront.
5. The federal direct parent plus loan can provide assistance to families who may not qualify for other types of financial aid or who require additional funding beyond what is offered through other aid programs.
6. It is essential for parents to carefully consider their financial situation, their ability to repay the loan, and the impact it may have on their long-term financial goals before deciding to utilize the federal direct parent plus loan.

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What is federal direct parent plus?

Federal Direct Parent PLUS is a federal loan program that allows parents of dependent undergraduate students to borrow money to help cover the cost of education.

Who is required to file federal direct parent plus?

Parents of dependent undergraduate students are required to file for Federal Direct Parent PLUS loans.

How to fill out federal direct parent plus?

To apply for Federal Direct Parent PLUS, parents can fill out the application online at studentaid.gov or submit a paper application to the student's school's financial aid office.

What is the purpose of federal direct parent plus?

The purpose of Federal Direct Parent PLUS is to provide additional financial assistance to parents to help pay for their child's education expenses.

What information must be reported on federal direct parent plus?

Parents will need to provide personal and financial information, including their social security number, income, and employment details, when applying for Federal Direct Parent PLUS loans.