The Federal Direct Parent PLUS loan is part of a federal program and is available to the parents of dependent undergraduate students. This is a credit based loan, and the interest rate is fixed at 7.9 percent. Repayment begins within 60 days of the second disbursement.
How to Apply
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Complete and submit the parent PLUS Master Promissory Note online.
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Complete and submit the PLUS Request Form to the AU Financial Aid Office. This can be faxed to 202-885-1129 or mailed to our office.
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Complete either the Free Application for Federal Student Aid (FAFSA) or the Statement of Educational Purpose. One or the other must be received by the Financial Aid Office before the PLUS loan can be disbursed.
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The Federal Direct Loan program will complete a credit check. Once your Master Promissory Note and credit approval have been processed, the Federal Direct Loan program will notify the AU Financial Aid office that loan is approved for disbursement.
PLUS Loan Denial
If your PLUS Loan is denied, then you may still be eligible to re-apply using an endorser (co-signer). If applicable, information about this option will be sent to you from the Federal Direct Loan program.
If you are unable to secure a PLUS loan, then your student may be eligible for an additional Federal Direct Unsubsidized Loan of $4,000 to $5,000. Our office will receive the notice of denial automatically from the Federal Direct Loan program, and an offer of this loan will be made to your student.
