Loan Details:

Parents of Dependent Undergraduate Students may borrow up to the Cost of Attendance minus other financial aid as determined by the school, through the Federal PLUS Loan Program. This is a credit-worthy loan with a fixed interest rate of 8.5%.

Approved applicants are not required to accept the loan; those who accept the loan are free to reduce the amount certified by the school.

How to Apply:

Complete a Parent PLUS MPN or Return to a Loans by Web™ Parent PLUS MPN

For security reasons, a FAFSA PIN will be required to E-sign your MPN. If you do not have or recall your PIN, visit the FAFSA PIN Web Site. Additionally, the option to print, sign and mail, or have an MPN mailed to you for your signature and return will be available.

Note: MPN (Master Promissory Note – Loan Application) MyEd’s funding process is administered by Panhandle-Plains Student Loan Center (PPSLC). A school’s preferred Stafford Loan Application Process is generally posted on the financial aid website.

Some schools may require the Free Application for Federal Student Aid (FAFSA) to be completed prior to certification. A school’s preferred PLUS Loan Application Process is generally posted on their financial aid web site.

**Due to our August 1, 2009 temproary suspension of all FFELP loan programs, all MPN links have been temporarly removed.**

Students of parents with a PLUS Loan Denial may be eligible for an additional Unsubsidized Stafford Loan. Contact the Financial Aid Office with your denial information and to discuss your options.

Repayment:

A PLUS Loan enters repayment when the loan is fully disbursed; most often an Academic Year Loan will be disbursed half in the fall and half in the spring. The first payment is usually due 60 days after the loan is fully disbursed (within 60 days after the second disbursement) in the spring.

The repayment period is at least 5 years for borrowers but no more than 10 years from the date the first payment is due.

MyEd student loans offers many resources to assist our borrowers with their individual repayment needs through our Deferment and Forbearance options, and personalized counseling, through our servicer, PPSLC.

PDF Deferment Forms:
Economic Hardship Deferment
Loan Discharge Application: Total and Permanent Disability Military Deferment
PLUS Borrower with Dependent Student Deferment
Unemployment Deferment

Forbearance - A temporary suspension of payments; or an extension of time for making payments.

Deferments and Forbearances must be requested in writing, by completing the appropriate form or by calling MyEd student loans. Additional repayment options may be available; Contact MyEd student loans for details.

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