Fill - Free fillable PLUS Loan Application Federal Direct Parent ABOUT THE (Wright State University) PDF form

Page 1 of 2

ABOUT THE LOAN

The Federal Direct Parent PLUS Loan (PLUS Loan) is a fixed

interest loan that a parent may borrow to help meet their

undergraduate student’s educational expenses. In addition, there

is an origination fee associated with the Federal Direct Parent

PLUS Loan.

• Interest rate for loans with a first disbursement date on or

after July 1, 2019 and before July 1, 2020: 7.08% fixed

• Interest rate for loans with a first disbursement date on or

after July 1, 2020 and before July 1, 2021: 5.30% fixed

• Origination fee for loans with a first disbursement on or

after October 1, 2019: 4.236% fixed (subject to change

after October 1, 2020)

• Origination fee for loans with a first disbursement on or

after October 1, 2020: 4.228% fixed (subject to change

after October 1, 2021)

TO QUALIFY, the parent applicant must:

• Be a U.S. citizen or eligible non-citizen (see page 2 for

required documentation)

• Be the student’s biological or adoptive parent; or be the

student’s stepparent that was included on the Free

Application for Federal Student Aid (FAFSA)

• Be deemed creditworthy (or apply with a creditworthy

endorser)

• Meet other requirements found at

http://www.wright.edu/raider-connect/financial-aid/parent-

loans

REPAYMENT begins 60 days after the loan is fully disbursed.

Payments may be deferred if the student is enrolled at least half-

time, though interest will continue to accrue during deferment.

Additional loan details, including loan fees, can be found online at

http://www.wright.edu/raider-connect/financial-aid/parent-loans.

HOW TO APPLY

The Federal Direct Parent PLUS Loan does not appear on the

student’s Award Notice. To apply, there are three (3) steps for

the family to complete:

1. The student files his/her 2020-2021 Free Application for

Federal Student Aid (FAFSA) at

https://studentaid.gov/h/apply-for-aid/fafsa.

2. The parent completes and returns the 2020-2021 Federal

Direct Parent PLUS Loan Application (see Page 2) to

Raider Connect by mail, fax, or e-mail.

3. The parent completes a PLUS Loan Master Promissory

Note (MPN) at

https://studentaid.gov/app/launchMpn.action?mpnType=pa

rentPlusMpn. The parent applicant will need an FSA ID in

order to access the MPN. Parent may request an FSA ID

at https://studentaid.gov/fsa-id/create-account/account-

info.

ON THE APPLICATION

A parent applicant has several options to choose from on the

application. A parent may (1) select the Credit Check Only

option. With

this option, you are not accepting the Federal Direct Parent PLUS

loan and if your credit is approved, our office will take no further

action. (2) Select the Credit Check & Acceptance option. With

this option, the Office of Financial Aid will run a credit check to

apply for the Federal Direct Parent PLUS loan and if your credit is

approved, our office will award the Federal Direct Parent PLUS

Loan to your students account for the terms they are enrolled for

at least half time. (3) Select the Check & Acceptance with

Endorser/Extenuating Circumstance option. With this option,

the Office of Financial Aid run a credit check to apply for the

Federal Direct Parent PLUS loan and if your credit is approved,

our office will award the Federal Direct Parent PLUS Loan to your

students account for the terms they are enrolled for at least half

time. If your credit is denied we will mail you a letter with the

information needed to obtain an endorser or document

extenuating circumstances with the Department of Education.

CREDIT REVIEWS

In order to process a Federal Direct Parent PLUS Loan, the parent

applicant must pass a credit check. Credit decisions are valid for

180 days; therefore, the Office of Financial Aid will conduct credit

checks no sooner than 180 days prior to the student’s start date.

OPTIONS IF DENIED CREDIT

If the Parent PLUS Loan applicant does not pass the credit check,

there are three (3) options available:

1. The parent applicant may obtain a creditworthy

endorser. The endorser will need to pass the credit

check, agree to endorse the Master Promissory Note

(MPN), and agree to repay the loan if the parent would

fail to do so. If the parent wants to pursue an endorser,

check the Credit Check & Acceptance with

Endorser/Extenuating Circumstance box in Part A of

the application. Information about how to proceed with

this option will be included in a letter mailed to the

address indicated on this application after the credit

decision is made.

2. The parent applicant may contact the Student Loan

Support Center at 1-800-557-7394 or log into

StudentAid.gov to document their extenuating

circumstances with the Department of Education to

appeal the credit decision. If the parent wants to appeal

the credit decision, check the Credit Check &

Acceptance with Endorser/Extenuating Circumstance

box in Part A of the application. Information about how to

proceed with this option will be included in a letter mailed

to the address indicated on this application after the

credit decision is made.

3. The student may be awarded a Federal Direct

Unsubsidized Stafford loan. The additional loan

eligibility will be offered to the student automatically if the

Federal Direct Parent PLUS Loan is credit denied and

the parent does not check the Credit Check &

Acceptance with Endorser/Extenuating Circumstance box

in Part A of the application.

Office of Financial Aid

130 Student Union

3640 Colonel Glenn Hwy.

Dayton, OH 45435-0001

Phone: 937-775-4000

Email raiderconnect@wright.edu

FAX: 937-775-4410

2020-2021

Federal Direct Parent

PLUS Loan Application

Page 2 of 2

2020-2021 Federal Direct Parent PLUS Loan Application

PART A: Credit Check or Application Request (Select ONE Option)

NOTE: If all options below are checked or left unchecked, the Office of Financial Aid will assume the parent is applying for the Federal Direct PLUS Loan without an endorser/extenuating circumstance.



Credit Check Only

I am requesting the Office of Financial Aid use the data provided on this form to run a credit check ONLY. I do NOT wish to accept the

Federal Direct Parent PLUS loan at this time. If my credit is approved, take no further action. If my credit is denied, allow my student to be

considered for additional Federal Unsubsidized Stafford Loan.



Credit Check & Acceptance

I am requesting the Office of Financial Aid use the data provided on this form to run a credit check to apply for the Federal Direct Parent PLUS

Loan. If my credit is approved, please award the Federal Direct Parent PLUS Loan to my students account for the terms they are enrolled for

at least half-time. If my credit is denied, allow my student to be considered for additional Federal Unsubsidized Stafford Loan.



Credit Check & Acceptance

with Endorser/Extenuating

Circumstance

I am requesting the Office of Financial Aid use the data on this form to run a credit check to apply for the Federal Direct Parent PLUS Loan. If

my credit is approved, please award the Federal Direct Parent PLUS Loan to my students account for the terms they are enrolled for at least

half-time. If my credit is denied, I plan to pursue an endorser (creditworthy co-signer) or appeal the credit decision with the Department of

Education. PLUS Credit Counseling will be a requirement for the Parent at StudentAid.gov.

PART B: Student Information (Please print legibly. Our office will not process incomplete applications)

1. Student Name:

2. Student UID:

3. Student SSN:

4. Student Date of Birth (Month/Day/Year):

PART C: Parent Information (Please print legibly. Our office will not process incomplete applications. This section is for ONE parent applicant only.)

5. Parent Name:

6. Parent SSN:

7. Parent Date of Birth (Month/Day/Year):

8. Parent Address:

9. City: 10. State: 11. Zip Code:

Note

If there is an unused amount of the Federal Direct Parent PLUS Loan and it is creating a credit balance on the students account, the excess amount is mailed directly to the

parent/borrower at the address above.

12. Parent Phone Number:

13. Parent Email Address:

14. Parent U.S. Citizenship Status (check one):

☐ Citizen/National

☐ Eligible Non-Citizen**

**Applicant must submit copies of the front and back of his/her Resident Alien

Card I-551, I-94 Arrival-Departure Record, or Alien Registration Receipt Card I-151.

PART D: Loan Information (Please print legibly. Our office will not process incomplete applications)

16. Enter Your Requested Dollar Amount: (The amount processed will not exceed the student’s cost of attendance minus

the student’s estimated financial aid.) PLEASE NOTE: Federal Direct Parent PLUS loan funds will be evenly split over the terms the

student is enrolled at least half-time up to the cost of attendance. Students must enroll at least half-time to receive federal loans.

Do NOT Leave Blank

$ .00

PART E: Parent Acceptance, Certification, and Authorizations (Please print this form and then sign. Our office will not process incomplete applications)

Signing of this document by anyone other than the parent whose information is provided above is a forgery punishable by law. By signing and checking Option 2, leaving options 1 and 2 blank, or checking options 1

and 2 (see Part A), I certify my acceptance of a Federal Direct Parent PLUS Loan (PLUS Loan) in the amount requested above to assist with the student’s (see Part B) educationally-related expenses at Wright State University

(WSU). In regards to the student’s charges, I also authorize WSU to (1) pay for allowable miscellaneous charges/fines other than tuition, fees and room and board; (2) pay outstanding charges from the prior award year; and (3)

hold funds to pay for future charges if future charges are due, and I acknowledge I may change one or more of these three authorizations by contacting Raider Connect at 937-775-4000. I certify that all the information on this

form is correct to the best of my knowledge. I authorize WSU to complete a mandatory electronic credit check (pre-approval) with the U.S. Department of Education to ensure that I am a creditworthy applicant. I

authorize WSU to initiate PLUS Loan processing in my name and to share the above information with the U.S. Department of Education and its agents for the purpose of PLUS Loan borrowing. In the case of a credit denial, I

understand that I will be notified in writing of the credit denial to the address provided on this form. 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 §451 et seq. of the Higher Education Act of 1965, as amended. Your disclosure of information is voluntary. However, if you do not provide this information, you cannot be considered for a

Direct PLUS Loan. The information on this form will be used to determine your eligibility for a 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 the Title IV of the HEA, a student must provide his or her SSN. Your SSN is used to verify your identity, and

as account number an (identifier) throughout the life of your loan(s) so that data may be recorded accurately.

17. Parent Applicants Signature: ___________________________________________18. Today’s Date: ______________

Applications signed with a stylus, mouse, or keyboard will not be accepted.

Please print the application and sign using a pen.

For Office Use Only

NSLDS

COD

RRAAREQ

Application Status

Mailed

Today’s Date

N Y

☐ ☐ Default

☐ ☐ Discharge

☐ ☐ No Record

Denied

☐

LNPCNO

_____________

Decision Date

Approved

☐

LNPCOK

_____________

Decision Date

☐ Application

☐ Options Letter w/App

☐ Follow-up Letter w/App

☐ Endorser/Credit Ovrd Letter

☐ Discharge Status Letter

☐ Options Letter for DC Borrowers w/App

☐ Credit Decision

Reason:

☐ Endorser/Credit Ovrd

LNPLSO Parent PLUS Loan 2020-2021

Download
Save PDF to desktop

Email
Email completed PDF

Send for Signing
Email for others to sign

Print
Print document

NAME

PLUS Loan Application Federal Direct Parent ABOUT THE (Wright State University)

View Audit Log
Print With Audit Log
Duplicate Document

Fill Online, Printable, Fillable, Blank PLUS Loan Application Federal Direct Parent ABOUT THE (Wright State University) Form

Related forms

Fillable PLUS Loan Application Federal Direct Parent ABOUT THE (Wright State University)

Fill Online, Printable, Fillable, Blank PLUS Loan Application Federal Direct Parent ABOUT THE (Wright State University) Form

Related forms

First 20 documents completely FREE!