Parent Loan for Undergraduate Students (PLUS)
The PLUS loan is available to parents of dependent
undergraduate students to assist in paying for educational costs after other
financial aid has been awarded. The funds are borrowed directly from the
US Department of Education.
have completed a FAFSA in order to receive a PLUS Loan. Students
will see an award named "PLUS Loan - Offered" on his/her Award Letter
or in the LOUIE account. This is the maximum amount a parent may be
eligible to borrow.
How does my parent apply for the PLUS Loan?
Complete the Parent PLUS Loan Application.
Completing the online application:
will need to use their PIN to apply for the loan.
- An instant
credit decision is included in the online application
- The Office
of Scholarships and Financial Aid will typically receive completed
applications the following business day. The parent and student will
both receive an email outlining the remainder of the process.
If approved, the parent who completed the loan application
must also complete a PLUS Master Promissory Note (MPN) prior to funds being
- Parent will accept or decline the loan after the
credit check results are received by NAU.
- Parent will sign the PLUS MPN at studentloans.gov using their electronic
- PLUS loan funds will pay charges (tuition, fees,
housing and other current charges) on the student account. A refund for
any excess funds will be sent to the parent via mail in the form of a
check. However, if the parent chose for the student to receive the excess
funds, they will be deposited into the student's account electronically
(if direct deposit is set up) or mailed in the form of a check to the
student's address on record.
For more information, see the Parent PLUS Loan Terms.
If denied, the
parent has three options. More information on these options will also be
emailed to the parent and student:
of Education will send the parent documents regarding the denied PLUS loan
application. These documents will include endorser information along with
information on how to appeal the decision. Parents can begin Appeal process
and and endorsers can begin the endorsement process online at studentloans.gov by signing in with his/her PIN.
decision will be sent electronically to the Office of Scholarships and Financial
Aid who will offer the eligible student an unsubsidized loan within 3-5
business days. The student must accept the additional unsubsidized loan
in LOUIE before funds can release to the student’s account. If the parent
and student are pursuing an endorser or appealing the credit decision, the
additional unsubsidized loan can simply be declined by the student in