Dsc Parent Loan (Plus) Application
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3Direct PLUS Loans for Parents
2017-2018
Parents of dependent students may apply for a Direct PLUS Loan to help pay their child's education
expenses as long as certain eligibility requirements are met. Graduate and professional students may
apply for PLUS Loans for their own expenses.
To be eligible for a Direct PLUS Loan for Parents:
The parent borrower must be the student's biological or adoptive parent. In some cases,
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the student's stepparent may be eligible.
The student must submit a Free Application for Federal Student Aid (FAFSA). Go to
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fafsa.ed.gov
to complete this process.
The student must be a dependent student who is enrolled at least half-time at a school
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that participates in the Direct Loan Program. Generally, a student is considered
dependent if they: are under 24 years of age; has no dependents; is not married; a
veteran of the armed forces; a graduate or professional degree seeking student; or a
ward of the court.
The parent borrower must not have an adverse credit history (a credit check will be
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done). If the parent does not pass the credit check, the parent may still receive a loan if
someone (such as a relative or friend who is able to pass the credit check) agrees to
endorse the loan. The endorser promises to repay the loan if the parent fails to do so.
The parent may also still receive a loan if he or she can demonstrate extenuating
circumstances.
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The student and parent must be U.S. citizens or eligible noncitizens, must not be in
default on any federal education loans or owe an overpayment on a federal education
grant, and must meet other general eligibility requirements for the federal student aid
programs.
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The parent that completes the following Parent Loan Information form must have a U.S.
Department of Education Federal Student Aid Identification Number (FSA ID) that is
required when signing the PLUS Master Promissory Note. If they do not have an FSA ID,
go to
fsaid.ed.gov
to obtain one.
The current interest rate for Direct PLUS Loans is 6.31% (Subject to change). The PLUS Loan repayment
period beings when the loan is fully disbursed. The first payment is due 60 days after the final
disbursement. For additional information on PLUS Loans, please go to studentaid.ed.gov.
To apply for a PLUS Loan, please complete the attached DSU Parent Loan (PLUS) Information Form and
submit it to the Dixie State University Financial Aid & Scholarships Office.
Once we have preformed the credit check, you will be notified of the results. For those that pass the
credit check, your loan with be originated with the Department of Education and you will be notified
when you can sign your MPN. For those that fail to pass the credit check, you will receive an email giving
you the option to get a co-signer or you can have your child, come to the Dixie State University Financial
Aid & Scholarships Office and request additional unsubsidized loan.
We will not accept pictures of forms. We only accept scanned or original forms for documentation. All
forms can be mailed, faxed or emailed to us.
DO NOT EMAIL the parent for as it must contain social security numbers and email is not secure.
Hand deliver, fax or mail the form tous.
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