Get the free FEDERAL DIRECT PLUS LOAN Summer 2016 ONLY

P.O. Box 400204, Carriers Hall, Charlottesville, VA 22904 Telephone: (434) 9826000, Fax: (434) 9247636 Website: http://sfs.virginia.edu Email: SFS Virginia.edu FEDERAL DIRECT PLUS LOAN **Summer 2016

How to fill out federal direct plus loan

How to fill out federal direct plus loan:

1. Determine eligibility: Before filling out the federal direct plus loan, make sure you are eligible. Generally, parents of dependent undergraduate students or graduate or professional degree students can apply for this loan.
2. Complete the Free Application for Federal Student Aid (FAFSA): In order to apply for the federal direct plus loan, you must have completed the FAFSA form. This form is used to determine your financial need and eligibility for federal student aid.
3. Visit the federal student aid website: Go to the official website of federal student aid and log in with your FSA ID. If you don't have one, create a new FSA ID.
4. Select the Direct PLUS Loan Application: On the website, navigate to the section for applying for loans and select the Direct PLUS Loan Application option. This will take you to the online application form.
5. Provide personal and financial information: Fill out the application form with your personal and financial information. This may include your name, address, social security number, income details, and employment information. Make sure the information you provide is accurate and up-to-date.
6. Choose loan amount: Decide on the loan amount you would like to borrow. Remember that you should only borrow what you actually need to cover educational expenses.
7. Review and sign the Master Promissory Note (MPN): Read the terms and conditions of the loan carefully and electronically sign the Master Promissory Note. This document outlines the terms of the loan, including repayment details and interest rates.
8. Submit the application: After completing all the necessary sections of the application form, review your information and make any required corrections. Then, submit the application.
9. Await loan approval: The processing time for the federal direct plus loan application can vary. Once your application is submitted, it will be reviewed and you will receive a notification of approval or denial.
10. Complete loan entrance counseling (if required): Depending on your circumstances, you may need to complete loan entrance counseling. This counseling provides important information about your rights and responsibilities as a loan borrower.

Who needs a federal direct plus loan:

1. Parents of dependent undergraduate students: The federal direct plus loan is commonly used by parents to help cover educational expenses for their dependent undergraduate children.
2. Graduate or professional degree students: Graduate or professional degree students who need additional funds to support their education may also opt for the federal direct plus loan.
3. Students with limited financial resources: Students who have exhausted other types of financial aid or scholarships and still require additional funding may turn to the federal direct plus loan as an option to meet their educational expenses.

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What is federal direct plus loan?

Federal Direct PLUS Loan is a federal loan program that allows parents of dependent undergraduate students to borrow money to cover any costs not already covered by the student's financial aid package.

Who is required to file federal direct plus loan?

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

How to fill out federal direct plus loan?

To fill out Federal Direct PLUS Loan, parents can visit the official website of the U.S. Department of Education or contact the student's school's financial aid office for assistance.

What is the purpose of federal direct plus loan?

The purpose of Federal Direct PLUS Loan is to help parents cover any remaining costs of their child's education after all other financial aid options have been exhausted.

What information must be reported on federal direct plus loan?

Parents are required to report their personal and financial information, as well as the amount they wish to borrow, on the Federal Direct PLUS Loan application.