Apply for Federal Direct PLUS Loan for Students In United States By Online
In order to apply for loan first fill out the FAFSA or the Free application of Federal Student Aid.
Methods to submit the Free Application for Federal Student Aid (FAFSA):
- Online: much faster and more convenient than paper Link
- In the mail: If require a paper FAFSA or a PDF FAFSA, you can download the pdf FAFSA or request an actual printed FAFSA by calling 1-800-4-FEDAID (1-800-433-3243) (or 319-337-565). If you have hearing impairment you can call the TTY number at 1-800-730-8913.
- You can also inquire with for the office of financial aid of your career school or college whether you can file it there. Certain schools make use of specialized software to complete your FAFSA for you.
Complete and submit an FAFSA isn’t the end of the story Your FAFSA must be processedbefore you will receive an Expected Family Contribution (EFC) that your school of choice determines the amount of aid you could receive.
Monitoring what is the current status of your program
For online applications you can verify what is happening with your FAFSA within minutes of submitting it. For paper FAFSA You will need wait between 7 and 10 days before you are able to verify what is happening with your application once it was completed. Here’s how to verify what is happening with your FAFSA application:
- Option 1: Go to FAFSA.gov and log-in
- Option 2. Make contact with to the Federal Student Aid Information Center.
If your FAFSA isn’t yet processed, it is best to put off a few days before reviewing the status.
Student Aid Report (SAR)
The Office of Federal Student Aid at the U.S. Department of Education will mail you an Student Aid Report (SAR) that is a report of the FAFSA information you filled out. The SAR will be sent to you in three to four weeks following the time you’ve submitted your FAFSA. When you receive it, go through the SAR to confirm there was no error in your FAFSA.
The SAR will not tell you the amount of financial aid you’ll receive. If you have were a candidate for admission to a career or college school and were accepted and have indicated the school you applied to on your FAFSA and the school will estimate the amount of aid you will receive and send you an aid proposal in paper or electronic format which is sometimes referred to as an award letter. This will tell you the amount of aid you are entitled to at the school. The timeframe of the aid award is different from school to school . It may be sent in the in the spring (awarding for the fall semester) or up to a week before you begin school. It is contingent on the time you apply and the school schedules the awarding of aid.
Verification applications If you have been selected for verification, you may see an entry in Your Student Aid Report saying youve been selected for verification or your school could notify you that you have been chosen. Verification is the method the school follows to ensure that the information reported in your FAFSA is correct. Your school is able to request documentation to verify the information you provided.
If you’re being screened for verification, that doesn’t mean you’re being charged with any wrongdoing. Certain people are chosen at random, and certain schools check all students’ FAFSAs. All you have to do is submit the information your school requires for and make sure you do this by the school deadline otherwise, you will not be eligible for financial aid.
Accepting a loan
The financial aid office at the school will give instructions on how to apply for Direct PLUS loan.
Your school is the one who informs that you about the loan amount that are being given, usually with the form of an “award letter” which lists all of the financial aid awards you are eligible for (your award packet).
It is important to evaluate the assistance offered carefully. For loans, remember that any amount you take out must be returned with interest. If your monthly expenses aren’t as much as the allowance that is expected at your institution, then you might not be required to borrow the same amount as that stated that is stated in your award document.
- Repayment Calculator It will provide you with an estimate of the monthly loan payments when you graduate.
- Budget Calculator to give an idea of the cost of college.
You are able to decide to decline the loan or seek a loan with a lower amount. The award letter from your school will outline how to proceed.
Further steps you need to follow to get your loan
All applicants eligible for the loan will be required to sign an Master Promissory Note (MPN) and agree to the terms for the loan. Professional and graduate students are also required to attend an admissions counseling session prior to being eligible for the PLUS loan. Contact the office of financial aid of the college which you (or the child in the instance of parents who are borrower) intend to attend for more information about the procedures at the school you are attending.
Required Documents For Apply for Federal Direct PLUS Loan for Students
- Completed FAFSA
Office Locations and Contacts
Federal Student Aid Information Center:
- details about federal student aid programs.
- Assistance with filling out the free Application to Federal Student Aid
- general information on your federal student loan
Federal Student Aid Information Center (FSAIC): 1-800-4-FED-AID (1-800-433-3243) TTY (for those with hearing impairments) 800-730-8913
Locations that do not have acces to 800-numbers 319-337-565
Spanish speakers are available (se habla espaol).
Time of Call:
- Monday-Friday Monday-Friday: 8 a.m.11 p.m. Eastern time (ET)
- Saturday: 8 a.m.5 p.m. ET
- Sunday: Noon6 p.m. ET
To be eligible for Direct PLUS Loans, applicants must
- be a professional or graduate degree student, enrolled at least half-time in an accredited school that offers a degree or certificate. the award of a degree or certificate or the parents (biological adoption, adopted, and in certain instances stepparent) of an undergraduate dependent student who is at least half-time in the school that is participating and
- satisfy the general eligibility criteria meet the general eligibility requirements for federal student aid. If you’re borrowing for your child, the child must also meet these criteria.
Notice: PLUS loan borrowers are not able to have an adverse rating on their credit (a credit report will be conducted).
It is mandatory to complete your FAFSA each year you are in school to remain eligible for federal student aid.
Documents to Utilize
Direct Loans allow you to:
- Can take out a loan direct from federal authorities. You will also you will only need to contact your loan servicer for all matters associated with repayment regardless of whether you have Direct Loans from various schools.
- Have online access for your Direct Loan account details on the servicer’s website.
- Choose from a range of repayment plans. You can change repayment plans should your requirements shift.
Applying Direct Loans: Like other federal student aid, you can apply Direct Loans by applying for FAFSA as well as the free application of Federal Student Aid. The majority of students utilize FAFSA online on Web to fill out their application. The information you provide on your FAFSA is sent to the institutions you have listed on the application. These schools utilize the information to determine the financial need of you to aid students.
Awards package Direct loan are typically granted as part of the larger “award package” which could include different types of aid to help you pay the expenses of attending the college or career school of your choice.
Loans made available through the Direct Loan Program
- Subsidized: for those with proven financial need according to federal regulations. Interest is not charged while the student is in school for at least half-time in the grace period, as well as during deferment times.
- Unsubsidized is Not dependent on financial needs; the interest rate is charged at every period, including the period the student is at school, as well as during grace or deferment times.
- PLUS: unsubsidized loans for the parents of dependent students and for graduate/professional students. PLUS loans can be used to pay for costs for education up to the cost of attendance , minus any other financial aid. In every period.
- Consolidation: Federal student loans may be combined to form an individual Direct Consolidation Loan.
After your loan has been approved, you aren’t required to start making payments until you have fallen below the level of half-time attendance.
The school you attend will tell you the amount you can be able to borrow as well as the kinds of loans you’re qualified to get. The Limits on Loans
- Your full name exactly as shown on the Social Security card
- Permanent address for mailing
- Social Security Number
- Date of Birth
- Telephone number
- Your driver’s license number and the state of your drivers license (if you are the owner of one).)
- Email address
- Marital Status
- Some colleges and states offer assistance based on the amount of schooling your parents have completed
Documentation is needed
Parents and students may take advantage of Direct Loans in order to cover the costs of education for a student following high school. The loan provider can be found in The U.S. Department of Education (the Department), though the majority of your interactions will be with the loan servicer. This is a guideline on how to apply for federal Direct PLUS Loan for students, which falls within the Direct Loans Program.