Fillable DIRECT Parent PLUS Application

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DIRECT Parent PLUS Application

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The DIRECT Parent PLUS Application form is 1 page long and contains:

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  • 25 other fields

Country of origin: US
File type: PDF

U.S.A. forms for Montana State University - Billings

BROWSE MONTANA STATE UNIVERSITY - BILLINGS FORMS

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Amount Requested: $ __________________________
Amount will be split evenly between fall and spring semesters
Student’s Name: ________________________________________ SSN: ____________________ D.O.B.: _____________
The Federal Direct Parent PLUS Loan is available to credit-worthy parents of dependent, undergraduate students who are enrolled at least half-
time. The lender is the U.S. Department of Education rather than a bank or other financial institution.
MPN Information: The Federal Direct PLUS utilizes a Master Promissory Note (MPN). The MPN allows a parent to complete a note that, in
most cases, is active for all subsequent PLUS loans for a period of up to 10 years. The parent completing this application must be the same
parent who completes and signs the MPN. If the parent borrower does not have an active PLUS MPN on file, he/she will need to
complete the note online through the Direct Loan website: https://studentloans.gov/.
Loan Limits, interest rates, and loan charges: A parent borrower can request to borrow up to the student’s total cost of attendance minus all
other financial assistance. The loan funds can be used to help pay educational expenses. The interest rate for Direct PLUS Loans is a fixed rate
of 7.9%. Interest is charged on Direct PLUS Loans during all periods, beginning on the date of your loan's first disbursement. In addition to
interest, you pay a loan origination fee that is a percentage of the principal amount of each Direct PLUS Loan that you receive. This fee helps
reduce the cost of making these low-interest loans. We deduct the fee before you receive any loan money, so the loan amount you actually
receive will be less than the amount you have to repay. Dependent students whose parents have applied for but were unable to get a PLUS
Loan are eligible to receive additional Direct Unsubsidized Loan funds.
___________________________________ ____________________
Parent’s Social Security Number Parent’s Date of Birth
_______________________________________________________________________________________________________
Parent’s Last Name First Name MI
_______________________________________________________________________________________________________
Parent’s Street Address City State Zip Code
____________________________________ ________________________________________ _(______)______________
Parent’s Driver’s License Number DL State Parent’s Email Address Parent’s Phone
Parent’s Citizenship Status: U.S. Citizen Eligible Non-Citizen (alien registration number: ________________________)
Are you in default on any federal education loans, or do you owe an overpayment on a federal education grant? YES NO
Authorization: If the credit check is approved, and an active MPN is on file, the PLUS loan funds will be credited to the student’s
University account for payment of institutional (tuition, fees, on-campus room & board, etc.) and non-institutional
(U-Card, parking fines, library fines, etc.) charges.
I authorize Montana State University – Billings to release any residual funds from my Federal Direct Parent PLUS loan directly to
my son or daughter to use towards educational expenses not charged directly to his/her student account (books, supplies, off-
campus housing, transportation, etc.).
Yes, I agree to the above statement. No, I do not agree to the above statement.
Please release residual funds to my student. Please release residual funds to me.
By signing this form, I authorize and understand that the information I provide will be transmitted by Montana State
University – Billings to the U.S. Department of Education and that a report of my credit record will be reviewed to
determine my eligibility for a Federal Direct Parent PLUS Loan.
(Privacy Act Disclosure Notice on reverse)
X _________________________________________________________ _______________________
SIGNATURE of Parent Borrower Date
Financial Aid & Scholarships
1500 University Dr
Billings, MT 59101-0298
phone: (406) 657-2188 • fax: (406) 657-1789
www.msubillings.edu/finaid
Federal Direct
PARENT PLUS Loan
Application
Parent’s Information:
(please type or print)
Privacy Act Disclosure Notice
The Privacy Act of 1974 (5 U.S.C. 552a) requires that the following notice be provided to you. The authority for collecting the information requested on
this form is S451 et seq. of the Higher Education Act of 1965, as amended. Your disclosure of this information is voluntary. However, if you do not
provide this information, you cannot be considered for a Direct PLUS Loan. The information in your file may be disclosed to third parties as authorized
under routine uses in the Privacy Act notices called “Title IV Program Files” (originally published on April 12, 1994, Federal Register, Vol. 59 p. 17351)
and “National Student Loan Data System” (originally published on December 20, 1994, Federal Register, Vol. 59 p. 65532). Thus, this information may
be disclosed to federal and state agencies, private parties such as relatives, present and former employers and creditors, and contractors of the
Department of Education for purposes of administration of the student financial assistance program, for enforcement purposes, for litigation where
such disclosure is compatible with the purposes for which the records were collected, for use by federal, state, local, or foreign agencies in connection
with employment matters or the issuance of a license, grant, or other benefit, for use in any employee grievance or discipline proceeding in which the
Federal Government is a party, for use in connection with audits or other investigations, for research purposes, for purposes of determining whether
particular records are required to be disclosed under the Freedom of Information Act, and to a Member of Congress in response to an inquiry from the
congressional office made at your written request.
Because we request your social security number (SSN), we must inform you that we collect your SSN on a voluntary basis, but section 484(a)(4) of the
HEA (20 U.S.C. 1091(a)(4) provides that, in order to receive any grant, loan, or work assistance under Title IV of the HEA, a student must provide his
or her SSN. Your SSN is used to verify your identity, and as an account number (identifier) throughout the life of your loan(s) so that data may be
recorded accurately.
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DIRECT Parent PLUS Application

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Completed 14 February 2020

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