Federal Direct Parent PLUS Loan Instructions

 

Parent PLUS Loan Application

Parents who wish to apply for a Federal Direct Parent Plus Loan must submit an online application each academic year they plan to borrow a loan.  After submitting the application, a check credit will be performed and typically a credit decision is given right away.

• To apply, the parent applicant should log in to the Federal Student Aid website with their FSA ID.
• Click on ‘Apply for Aid.’
• Click on 'Apply for a Parent PLUS Loan.'
• Click 'Start' and follow the prompts to complete the application.

Next Steps for Approved Credit Applications:

First-time Parent PLUS Loan borrowers must complete a Master Promissory Note (MPN) once at the Federal Student Aid website. 

• After logging in, click on 'Complete Aid Process.'
• Click 'Parent PLUS MPN.'
• Click 'Start' and follow the prompts.
• Have the names, addresses and telephone numbers for two references available.

Next Steps for Denied Credit Applications:

Option #1: Request an additional Unsubsidized Student Loan

If a parent is unable to obtain a Parent PLUS Loan and does not wish to pursue approval, the student may have the option to borrow up to an additional $4,000 a year in the unsubsidized loan.  In some cases, students in a bachelor's program with at least 60 earned credits may have the option to borrow up to $5,000 a year in an additional unsubsidized loan. Students should email sfs@delhi.edu from their SUNY Dehli email account if they wish to pursue this option . 

 

Option #2: Re-apply with an Endorser (co-signer)

An endorser is someone who agrees to repay the loan if the borrower becomes delinquent or defaults on the loan.

• The endorser will need to log in to the Federal Student Aid website with their FSA ID or choose to create a new account.
• Click 'Apply for Aid.'
• Click 'Endorse a PLUS Loan.'
• The endorser will need the 'Endorser Code' or 'Award Identification Number' from the parent borrower to begin the process of the Endorser Addendum.
• If the endorser is approved, the parent borrower will need to submit a new Master Promissory Note (MPN) and complete PLUS counseling. 

 

Option #3: Appeal the Credit Decision

This option allows the parent applicant to document extenuating circumstance to the satisfaction of the U.S. Department of Education through the Federal Student Aid website. 

• Click 'Apply for Aid.'
• Click 'Appeal a Credit Decision' and follow the prompts.
• If the credit decision is overturned (approved), the parent borrower will be required to complete PLUS Counseling.