Parent Plus Pre-Approval & Acceptance Form

Parents of dependent students can borrow to supplement their dependent's aid package. The Federal Direct Parent Loan for Undergraduate Students (PLUS) allows parents to borrow money to cover any costs not already covered by the student's financial aid package, up to the full cost of attendance including an allowance for books and miscellaneous expenses. There is no cumulative limit.

Parent Borrower: If you wish to borrow the Federal Direct Parent PLUS Loan, the Free Application for Federal Student Aid (FAFSA) is required.

  • You must first complete the 2014-15 FAFSA online at
  • You must also complete this credit consent form. Please print clearly, read and review the important instructions and information on this form.
  • Complete the electronic Federal Direct Plus Master Promissory Note (e-MPN) at
Parent Borrower Complete all items. Please also read the important instructions and information at the bottom of this form.
Parent Information

(If yes, you are not eligible.)
Student Information
Social Security #

(The amount indicated above will be divided equally for the semesters Fall 2014 and Spring 2015.
Additional comments and instructions

Federal Direct Parent PLUS Loan Acceptance Instructions and Information
The Parent PLUS Loan is a loan for the biological mother or father, custodial stepparent (if information was reported on the FAFSA), or adoptive parent of a dependent undergraduate student. A parent can borrow the total estimated cost of attendance less the student’s total financial aid. If more than one parent wishes to borrow a Parent PLUS Loan for the same student, each parent must complete a separate 2014-15 Federal Direct Parent PLUS Loan Acceptance form and Master Promissory Note (e-MPN). A 2014-2015 FAFSA is required. A federal Personal Identification Number (PIN) is required to complete this process. If the parent applying for the loan does not have a federal PIN, they can apply for one at:

There are three steps to process a Parent PLUS loan

Step 1: Complete the 2014-15 FAFSA at

Step 2: Complete and return the 2014-2015 Federal Direct Parent PLUS Loan Acceptance form
You may complete the form online, above. Be sure to answer all questions. An incomplete acceptance form could delay processing.

Step 3: Complete a Federal Direct Plus Loan Master Promissory Note (e-MPN)
Complete online at

Interest Rates
The Federal Direct Parent PLUS Loan interest rate is variable with a cap of 10.50%.

Loan Fees
There is an origination fee up to 4.288% charged by the U.S. Department of Education for processing the Federal Direct Parent PLUS Loan. The loan fee is deducted proportionately from each disbursement of the loan.

Credit Checks
In order to borrow a Federal Direct Parent PLUS Loan, you must pass a credit check. After we receive the signed loan acceptance form, the Common Origination and Disbursement Center (COD) will perform a credit check and notify you of the results by mail. The Financial Aid Office will receive an electronic notification of the credit check results. If you have questions about the outcome of the credit check, contact the COD at 1.800.557.7394.

Denied Credit Checks
If you do not pass the credit check, there are three options available to you.
1. Contact the COD at 1.800.557.7394 if you believe there was an error made on the credit check.
2. You can obtain a creditworthy endorser. The endorser must pass the credit check, agree to endorse the MPN, and agree to repay the loan if you would fail to do so. Information about how to proceed with this option will be included in your letter from the COD.
3. The student can qualify for an additional Federal Direct Unsubsidized loan in their own name.

A positive credit check and completed e-MPN must be received before any funds can be disbursed to the student’s account. Estimated loan amounts will appear on the student’s account if we have received notification of a positive credit check. Any refunds resulting from the Federal Direct Parent PLUS Loan will be mailed to the parent address listed on the 2014-2015 Federal Direct Parent PLUS Loan Acceptance form.


Repayment on a Federal Direct Parent PLUS Loan begins 60 days after the final disbursement of the loan, and will continue while the student is enrolled in school. You may choose a Standard, Extended, or Graduated Repayment Plan. Information about these specific payment plans will be sent to you by the Direct Loan Servicer. If you are experiencing difficulty making your scheduled payments, you should contact Borrower Services at the Direct Loan Servicing Center at 1.800.848.0979.

Student Eligibility
Before any Federal Direct Parent PLUS Loan proceeds can be disbursed, the student must be:
• Enrolled at least half-time (6 credit hours)
• Enrolled in a degree-seeking program
• Maintaining satisfactory academic progress