Get the free Graduate PLUS Loan Application - University of Michigan

1516:GPL Graduate PLUS Loan Application Student Information (response required) Student Name: Birthdate: Social Security Number: Driver's License State & Number: Street Address: City: State: Zip Code:

How to fill out graduate plus loan application

How to fill out a graduate PLUS loan application:

1. Obtain the necessary forms: Start by visiting the official website of the U.S. Department of Education or your school's financial aid office to access the graduate PLUS loan application. You can choose the online or paper application, depending on your preference.
2. Provide personal information: Begin the application by entering your personal details, such as your full name, Social Security number, date of birth, and contact information. This information is crucial to verify your identity.
3. Indicate loan period and amount: Specify the loan period for which you are seeking funds, typically referring to the academic year or semester. Additionally, state the amount you would like to borrow, ensuring it does not exceed the maximum loan limit.
4. Confirm enrollment: Verify your enrollment status by providing the name of your school and the program in which you are enrolled or planning to attend. Ensure the information is accurate, as it impacts your eligibility for the graduate PLUS loan.
5. Complete the Applicant and Reference sections: Answer all the questions in the Applicant section diligently, including your citizenship status and details about any prior loans or defaults. In the Reference section, provide the contact information of two individuals who can vouch for your character and financial responsibility.
6. Review and sign the application: Carefully review all the information entered on the application for accuracy and completeness. Once satisfied, sign the application electronically or using a pen for paper applications.
7. Complete the Master Promissory Note (MPN): As a part of the graduate PLUS loan application process, you will need to complete the MPN, which serves as a binding agreement between you and the Department of Education. Ensure you understand the terms and conditions before signing.

Who needs a graduate PLUS loan application:

1. Graduate students pursuing higher education: The graduate PLUS loan application is primarily intended for those individuals who are pursuing advanced degrees, such as master's or doctoral programs. It provides additional financial assistance when other sources, like federal loans or scholarships, may not fully cover the education expenses.
2. Students with a demonstrated financial need: The graduate PLUS loan application may be helpful for students who have exhausted their eligibility for unsubsidized federal loans and still require additional funding to cover tuition fees, living expenses, or other educational costs.
3. Individuals with a stable credit history: Unlike other federal student loans, the graduate PLUS loan requires a credit check. While having perfect credit is not necessary, applicants with a strong credit history are more likely to be approved for this loan. However, if an individual has an adverse credit history, they may still be eligible by applying with an endorser or by appealing the credit decision.

Remember, it is crucial to thoroughly review the loan terms, interest rates, and repayment options associated with the graduate PLUS loan before proceeding with the application. Additionally, consider exploring other financial aid options and scholarships to minimize your overall borrowing.

For pdfFiller’s FAQs

What is graduate plus loan application?

The Graduate PLUS Loan Application is a federal loan application available to graduate students to help cover any remaining cost of attending graduate school after other financial aid has been exhausted.

Who is required to file graduate plus loan application?

Graduate students who need additional funding beyond what is offered through federal direct unsubsidized loans are required to file the Graduate PLUS Loan Application.

How to fill out graduate plus loan application?

To fill out the Graduate PLUS Loan Application, students must complete the application online through the Department of Education website, provide personal and financial information, and undergo a credit check.

What is the purpose of graduate plus loan application?

The purpose of the Graduate PLUS Loan Application is to provide graduate students with the option to borrow additional funds to cover the cost of their education.

What information must be reported on graduate plus loan application?

The Graduate PLUS Loan Application requires applicants to report personal information, financial information, and undergo a credit check.

When is the deadline to file graduate plus loan application in 2024?

The deadline to file the Graduate PLUS Loan Application for the 2024 academic year is typically in early June.

What is the penalty for the late filing of graduate plus loan application?

There is no specific penalty for late filing of the Graduate PLUS Loan Application, but it is recommended to submit the application before the deadline to ensure timely processing of funds.

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