Get the free FEDERAL DIRECT PLUS LOAN REQUEST FORM 2014-15 Student ... - century

Financial Aid Office? 3300 Century Avenue North White Bear Lake, MN 55110 Phone: 651-779-3305 Fax: 651-779-5816 E-mail: fin aid century.edu A MEMBER OF THE MINNESOTA STATE COLLEGES & UNIVERSITY SYSTEM

How to fill out federal direct plus loan

How to Fill Out Federal Direct PLUS Loan:

1. Start by gathering the required information: You will need your Social Security number, driver's license or state ID, contact information, and employment details. Additionally, if you are borrowing on behalf of a dependent student, you will need their personal information as well.
2. Complete the Free Application for Federal Student Aid (FAFSA): Before applying for a Federal Direct PLUS Loan, the student or the parent must have already submitted the FAFSA. This form determines the student's eligibility for federal financial aid.
3. Visit the Federal Student Aid (FSA) website: Access the official website of the U.S. Department of Education's FSA program, which provides various resources for federal student loans. Navigate to the section specifically for Federal Direct PLUS Loans.
4. Log in to the Student Aid Dashboard: Sign in using your FSA ID. If you don't already have an FSA ID, you can create one on the website. This ID serves as your electronic signature on federal student loan documents.
5. Begin the application process: Select the "Apply for a Direct PLUS Loan" option. You will be prompted with a series of questions and sections to fill out, including loan amount, loan period, and loan term preference. Provide accurate and detailed information to avoid any delays or errors.
6. Complete the Master Promissory Note (MPN): As part of the application, you will need to sign the MPN, which is a legal document stating that you agree to repay the loan and any accrued interest. This note covers all future PLUS Loans you may request for the same student.
7. Review and submit your application: Before submitting the application, carefully review all the information you have provided. Make sure all details are accurate, and if necessary, make any corrections. Once everything is in order, submit your application.

Who Needs Federal Direct PLUS Loan:

1. Parents of Dependent Undergraduate Students: Federal Direct PLUS Loans are primarily designed for parents who wish to borrow funds to help pay for their dependent children's undergraduate education expenses. These loans can help bridge the gap between other financial aid sources and the total cost of attending college.
2. Graduate and Professional Degree Students: Under certain circumstances, graduate or professional degree students can also apply for a Federal Direct PLUS Loan to cover their educational expenses beyond what other forms of aid may provide.
3. Non-Traditional Students: While primarily intended for parents and graduate students, the Federal Direct PLUS Loan program is available to eligible borrowers regardless of age or educational background. This can provide an additional funding option for non-traditional students returning to school or pursuing further education.

Note: It is important to thoroughly understand the terms and commitments associated with Federal Direct PLUS Loans before borrowing. Consider exploring other financial aid options, scholarships, or grants before making a final decision.

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