Office of Financial Aid & Scholarships Graduate PLUS Loan Information
SSB Bldg #121 First Floor
2019 - 2020 Aid Year
3801 W. Temple Ave; Pomona, CA 91768-4008
Phone: (909) 869-3700
Fax: (909) 869 - 4757
What is the Graduate PLUS Loan?
The Federal Graduate PLUS loan is a federal credit-based loan, which is available to assist graduate students (Master’s
and Doctoral level) with the costs of their degree program. Students are encouraged to borrow only the minimum
amount needed to cover actual costs. Eligibility is determined by subtracting the student’s total financial aid and
resources from the cost of attendance. The total amount awarded can never exceed the cost of attendance for the
20192020 Academic Year.
Who may borrow a Graduate PLUS Loan?
The Graduate PLUS Loan is available to students who meet all of the following criteria:
Graduate students who are enrolled in a Master’s or Doctoral degree program (Credential & Certificate
students are not considered graduate students)
Filed a 2019 2020 FAFSA (and submitted all follow up documents, if applicable)
Eligible for Federal Student Aid
Enrolled at least half-time (4 units) in Graduate-level coursework during each semester:
Meeting Satisfactory Academic Progress Standards (SAP) for Financial Aid
What if I don’t pass the credit check?
If you do not pass the credit check, you have the following options:
Appeal: If you think there may be an error in how the credit worthiness was determined
Apply with a credit-worthy endorser: You may use someone else to endorse (co-sign) the loan. This person will
be responsible to repay the loan in the event you are unable to make payments.
You will receive the results of your credit check by the Federal Loan Servicing Center. If you decide to appeal the credit
check or to apply with a credit-worthy endorser, follow the instructions provided by the Loan Servicing Center (which
includes completing the PLUS Counseling module on www.studentloans.gov
).
Be sure to indicate on the Loan Request form what you would like to do, in the event your loan is credit-denied.
I have completed the loan request form. What’s next?
Once you have submitted your completed loan request to Financial Aid, you must complete a Graduate PLUS Master
Promissory Note (MPN) at www.studentloans.gov
. The MPN is required of all borrowers. If you do not complete the
MPN, the loan process is not complete and your loan funds will not be released. Additionally, you must complete the
Loan Entrance Counseling for Graduate PLUS Borrowers (also at
www.studentloans.gov).
Who Receives the Graduate PLUS Loan funds?
Cal Poly Pomona will receive the funds and apply them, and any other financial aid you receive, to the charges on your
student account (tuition, fees, room & board if applicable). IF any funds remain after your bill is paid, a refund (or
Financial Aid Disbursement) will be issued. This refund is processed by the Cal Poly Pomona Student Financial Services
office. Be sure to sign up for Direct Deposit so your funds can be sent directly to your bank account.
Graduate PLUS Loan Information - continued
Office of Financial Aid
and Scholarships
Loan Fees, Interest Rates, and Repayment Information
After you have been approved for a PLUS Loan, a “Loan Disclosure Statement” will be sent to you by the Department of
Education indicating the amount you are borrowing, the loan period, and the loan fees. Interest begins to accrue at the
time funds are released; repayment of principal and interest begins 60 days after the loan has been fully released.
The Graduate PLUS Loan has a fixed interest rate of 7.08% (for those loans with a first disbursement that occurs on or
after July 1, 2019 and before July 1, 2020).
For more information about interest rates, loan fees, repayment options and monthly payment estimators, visit Federal
Student Aid at www.studentaid.ed.gov
.
How To Apply for the Graduate PLUS Loan
To apply for the Graduate PLUS Loan, complete the following steps:
Confirm that there is a 2019 2020 FAFSA on file with Cal Poly Pomona, and that there are no outstanding
financial aid documents needed (check your To Do List on BroncoDirect).
Submit your completed 2019 2020 Federal PLUS Loan Request (Graduate) to the Cal Poly Pomona Financial
Aid Office.
Complete the Graduate PLUS Loan Master Promissory Note (MPN) at www.studentloans.gov
.
Complete the Entrance Counseling for the Graduate PLUS Loan at www.studentloans.gov.
Your loan request will be reviewed to determine your loan eligibility. To be eligible, you must:
Be enrolled at least half-time (4 units) in graduate-level coursework during each semester of
enrollment
Meet the general eligibility requirements for Federal Student aid.
Be meeting the Cal Poly Pomona Satisfactory Academic Progress (SAP) standards for Financial Aid
recipients.
Please note: SAP is run once annually, after the Spring semester’s grades have been finalized &
posted. The results of the SAP evaluation determine the student’s eligibility going into the next
award year. If, once SAP has been run, you are not meeting the SAP Standards, you will not be
eligible to receive the Graduate PLUS Loan. If your loan was processed, it will be cancelled, and you
will be required to return any funds that may have disbursed.
Please Note the Following:
Graduate PLUS Loans will be processed based on your actual cost of attendance for the academic year.
When funds are released to Cal Poly Pomona, they will be applied toward ALL outstanding charges including
any installment plans for tuition and/or housing. Any funds remaining after ALL charges have been paid will be
issued as a refund to you.
If you drop below half-time status, you will be ineligible to receive Graduate PLUS Loan funds.
If you fail to complete either the MPN or the Entrance Counseling for the Graduate PLUS Loan, funds from the
loan will not be released.
Office of Financial Aid & Scholarships Graduate PLUS Loan Request
SSB Bldg #121 First Floor
2019-2020 Aid Year
3801 W. Temple Ave; Pomona, CA 91768-4008
Phone: (909) 869-3700
Fax: (909) 869 - 4757
Student Name: __________________________________________Bronco ID Number: ____________________
Student Borrower Information
SOCIAL SECURITY NUMBER_________________________________ DATE OF BIRTH____________________________
STREET ADDRESS_____________________________________________________________________________________
CITY________________________________________________________ STATE________ Zip Code________________
ACADEMIC PROGRAM ENROLLED IN FOR 2019 2020 ______________________________________________________
Loan Request: For the 2019 2020 Academic Year (August 22, 2019May 15, 2020)
Enrollment Period: 2019 2020 Academic Year Fall 2019 Only Spring 2020 Only
Requested Loan Amount: Maximum PLUS Eligibility OR PLUS Loan Amount $_______________
Cal Poly Pomona reserves the right to award less than the requested amount based on the student’s eligibility.
Before requesting a loan amount, please note the yearly Federal Direct Unsubsidized loan limits, as you should borrow
your maximum Federal Direct Unsubsidized loan eligibility first:
Class Standing
Maximum Annual Direct Unsubsidized Loan Eligibility
Graduate Students (Pursuing a Master’s or Doctoral degree) $20,500 Unsubsidized Stafford Loan
Your maximum Unsubsidized Loan eligibility may be less than the above amount; loan eligibility is based upon your cost of attendance
minus all other types of financial aid. To determine your Grad PLUS eligibility, subtract any amounts of financial aid you will be receiving
(including Unsubsidized Loans) from your Cost of Attendance. The resulting figure will be your maximum Grad PLUS eligibility;
you do
not have to borrow the maximum amount.
PLUS Loan Denial Options (In the event the PLUS loan is credit-denied. Please check only one)
Use an endorser (credit-worthy co-signer) or contest the credit denial. I understand it is my responsibility to contact the Direct
Loan Servicer at 1-800-557-7394 to obtain the necessary paperwork, and that I will be required to complete the PLUS Counseling
Module on www.studentloans.gov
.
Cancel the PLUS request. I will pursue other options.
Student Borrower’s Consent & Signature
1. I have read, and understand, the attached Graduate PLUS Loan Information Sheet and the attached Privacy Disclosure Notice.
2. I consent to the U.S. Department of Education and its agents obtaining a report of my credit record and using that information
in determining whether to make a Federal Direct PLUS Loan to me. I understand that the Department of Education will notify
me in writing of the results of the credit check with respect to my loan application.
3. I must be enrolled at least half-time and making Satisfactory Academic Progress towards my degree in order to receive funds
from a Graduate PLUS Loan.
4. I understand that I MUST complete a Graduate PLUS Loan Entrance Counseling session
AND have a signed Graduate PLUS
Loan Master Promissory Note (MPN) on file with the U.S. Department of Education to complete the loan process (the Entrance
Counseling & MPN can both be completed at www.studentloans.gov
).
Student Signature_____________________________________________ Date__________________________
Return This Form by FAX to (909) 869-4757