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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:
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
C
S
P
F
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