Federal Direct PLUS Loan Application Instructions

Financial Aid

Step 1:

The FAFSA
If your student has not already, please have them complete and submit the 2012-13 FAFSA now at: www.fafsa.ed.gov The U.S. Department of Education requires a FAFSA be completed for every student whose parent applies for a federal Direct PLUS.

 

 Step 2:

Obtain your (parent) Federal Student Aid PIN: www.pin.ed.gov

Your Federal Student Aid PIN is used each year to electronically sign your student's FAFSA form online. If you do not know your pin, you can request a duplicate, using the website above. Because this 4 digit number is needed to apply for your Federal Direct PLUS, you cannot proceed without it.

Remember this is the parent's PIN not the student's.

 

Federal Pin Web site

 

 

Step 2:

Visit www.studentloans.gov to apply for your federal Direct Parent Loan for Undergraduate Students (PLUS).

On the left side of the page, use the green "Sign In" button to begin your application process.

 

Step 3:

The next page will allow you to enter your identifying information and your (parent's)Federal Student Aid Pin.

 

 

 

Step 4:

1.Choose the "Start PLUS Application Process" link to begin.

2. Confirm your email address for future correspondence. Please choose the email address you are most likely to use during and after your time at Swarthmore.

 

Step 5:
Choose your loan type:

webshot of choosing PLUS loan

Parents choose "Parent PLUS"

Step 6:

Complete parent borrower information

webshot of 1st page of MPN

 

Step 7:

Complete student information and decide how much you wish to borrow on the following screen:

2nd page of mpn

 

 

If you should borrow more than your bill a credit balance will be created. Please use the item below to tell us who should receive that credit balance. It is important that you confirm who will be receiving the credit as a refund otherwise it will remain on the student's account.

It is very important that you figure the amount you wish to borrow correctly. You may only borrow up to, but not more than , the cost of attendance minus any financial aid your student is receiving.

Continue the application and submit for the application to go through a credit check by the U.S. Department of Education.

**IF THIS IS THE FIRST TIME YOU ARE BORROWING A FEDERAL DIRECT PLUS FOR THIS STUDENT, PLEASE ALSO COMPLETE A MASTER PROMISSORY NOTE. CLICK ON "COMPLETE MPN" and then "Parent PLUS".

Once we receive notice that you have completed the federal Direct PLUS process we will originate (or certify) your loan. The U.S. Department of Education will send you a disclosure statement with the details of your loan. You will also receive a confirmation letter from the Financial Aid Office. Once your funds have been disbursed to your student's account, you will receive notice from the Student Accounts Office.

If you do not pass the credit check you should have been prompted on the studentloans.gov website to either obtain an endorser or appeal the credit decision. If you want your child to borrow additional unsubsidized funds instead, please have your child e-mail our loan coordinator, Joanne Barracliff at jbarrac1@swarthmore.edu to let her know how much additional funds they wish to borrow. First and second year students may borrow up to an additional $4,000 unsubsidized and third and fourth year students may borrow up to an additional $5,000 unsubsidized.