Entrance Counseling & Master Promissory Note (MPN):
New borrowers must complete the Entrance Counseling and MPN at student.loans.gov. Your loan will not pay without these completed.
- Direct Loan Servicing will run a credit check and notify you of the results.
- If your application is not approved, you will be able to choose from one of the four options listed below. You may contact Direct Loan Applicant Services at 800-557-7394 for the credit check results and to discuss your options.
PLUS Loan funds will first be applied to your student's University account to pay tuition, fees and other institutional charges. Any remaining funds will be refunded to you or your student by the Bursar's Office based on the choice that you selected on the PLUS Application form.
- On the PLUS Application parent borrowers can "opt" to defer repayment while your student is at least half-time enrolled. Otherwise, your loan enters repayment once your loan is fully disbursed (paid out). Interest will continue to accrue if you are granted a deferment/forbearance on the loan.
- You may prepay your loan in full at any time or pay more than the monthly repayment amount due without penalty.
- About 4-6 weeks after the first disbursement of your loan, your Federal Loan Servicer will mail a disclosure statement that will include their contact information and web address or go to National Student Loan Data System (NSLDS) to find your Servicer's contact information.
- Register online at your Federal Loan Servicer's web site and check for detailed repayment information and deferment, forbearance, or consolidation options.
Additional information about the Direct PLUS Loan is available on the U.S. Department of Education's Repaying Your Loans page.