Below is a list of important details needed when completing a PLUS application:

• The borrower must go to studentaid.gov and sign in using their FSA ID Username and FSA ID Password.
  • The borrower is either a parent of a dependent undergraduate student or a graduate or professional student.
  • After logging in, click the applicable link;  Apply for a Parent PLUS Loan or Apply for a Grad PLUS Loan

The PLUS Loan Applications consist of four primary sections:  Loan and School Information, Student and Borrower Information, Review Section and a Final Section to Authorize Credit Check and Submit

1. Select an Award Year for the PLUS loan
2. Parent applicants need to identify the student receiving the PLUS loan funds if you are the Parent
3. Parent applicants need to Request Yes or No for Deferment while the student is enrolled on at least half-time basis in school and/or Request Yes or No for an additional six months of Deferment after student has dropped below at least-half time enrollment.
4. Parent applicants and Grad PLUS Loan applicants may select Authorize for School to Use Loan Funds to Satisfy Other Charges. This is not a requirement. If you do not provide authorization the loan funds will only pay for tuition and fees, and room and board if living on-campus, and refund any additional remaining funds to student or parent while leaving other educational related charges unpaid on the student LOUIE account such as but not limited to, library fines, campus parking, print charges, health center charges etc.
5. Parent applicants also have the option to select where payment of a remaining credit balance should be sent after the loan has been applied to the student’s school account.; Me (the parent) or The Student
6. Parent applicants and Grad PLUS Loan applicants must add School Information, select the loan amount option desired and then select the loan period.
7. Borrower information for the Parent applicants should include the Parent applicant’s information while the Grad PLUS Loan applications will only require the student applicant information.
8. Review section is populated with the information from the previous steps and allows the opportunity to verify that it’s correct or update as needed by selecting “Edit.”
9. Credit Check Authorization is required and Certifications are required before the application can be processed and cannot be left blank.
10. Your FINAL Congratulations page shows that the loan request has been completed and will indicate whether or not the credit decision is approved or denied for the loan.

Northern Arizona University 2022-2023 Academic Year Loan Period Information is as follows:

• 2022-2023 Fall/Spring Academic Year: 08/2022-05/2023
  • The deadline to apply for this loan is May 4, 2023
•  Fall 2022 only: 08/2022-12/2022
  • The deadline to apply for this loan is December 8, 2022
• Spring 2023 only: 01/2023-05/2023
  • The deadline to apply for this loan is May 4, 2023
•  Summer 2023: 05/2023-08/2023
  • The deadline to apply for this loan is August 21, 2023

Making Changes to an Existing PLUS Loan

For the same borrower, in the same loan period, and for the same student (if a Parent PLUS loan)

Increasing an existing PLUS loan can be done by going to studentaid.gov, logging in, then selecting the link titled “Apply for a Direct PLUS Loan”. Once there, select from two options:

Option 1: Select the “Change the application” option to change the existing loan.

1. Include the Application ID number of the application being modified
2. Enter the new total loan amount after the increase, not the amount the loan is being increased by
   • Example: if a loan is being increased from $7,500 to $10,000, enter $10,000 as the loan amount instead of the $2,500 difference. Entering $2,500 as the amount will result in the application being submitted as a loan amount decrease

Option 2: Select the “New application” option. If using this option, submit the application with the increased funds listed as the loan amount. Using the example shown for Option 1 above, the $2,500 would be entered as the loan amount on a new PLUS loan application.

For a different borrower or the same borrower in a different loan period and/or different student (if a Parent PLUS loan)

To increase a loan application for a different borrower, or for the same borrower for a different loan period and/or different student, the “New application” option must be selected; changes cannot be  made to the original application in these cases.

Decrease a PLUS Loan Amount

Decreasing an existing PLUS loan can be done by using either of the following two options:

Option 1: go to studentaid.gov, log in, then select the link titled “Apply for a Direct PLUS Loan”. Once there, select the “Change the application” option and enter the new total loan amount after the decrease, not the amount the loan is being decreased by.

• Example: if a loan is being decreased from $7,500 to $5,000, enter $5,000 as the loan amount instead of the $2,500 difference. Entering $2,500 as the amount will result in the loan being decreased to a total of $2,500

Option 2: Contact  our office and request that the loan be decreased to the total amount desired. Please be specific in regards to which loan is being changed if multiple PLUS loans have been awarded.

Cancel a PLUS Loan

Contact our office at financial.aid@nau.edu and request that the loan be cancelled. Please be specific in regards to which loan is being cancelled if multiple PLUS loans have been awarded.

If denied for the Federal Direct Parent PLUS Loan or Graduate PLUS Loan, a borrower can obtain an endorser for the Federal Direct PLUS Loan. An endorser is someone who agrees to endorse a PLUS Loan, similar to a co-signer, and will repay the PLUS Loan if the borrower is unable to do so. The student cannot serve as an endorser for their parent for a Federal Direct Parent PLUS Loan. Upon credit denial, an Application ID number will be provided to the borrower (parent or graduate student). The endorser will need this Application ID number for the borrower’s denied application in order to endorse the PLUS Loan.

Endorser Process

1. Obtain Application ID Number of the Credit Denial
   The endorser must obtain the Application ID number of the borrower’s credit denial from the borrower
2. Create Endorser FSA ID
   The endorser needs to create a Federal Student Aid ID (username and password) at StudentLoans.gov
3. Endorse a PLUS Loan
   The endorser signs into StudentLoans.gov and selects “Endorse a PLUS Loan” to complete the process

Borrower Process

1. Borrower Completes the PLUS Master Promissory Note (MPN)
   The borrower (not the endorser) will need to complete a PLUS Master Promissory Note. Though MPNs allow for multiple year borrowing under the same terms, when an endorser is used, the MPN is used for that loan only. Therefore, a borrower who has previously received a PLUS Loan with or without an endorser will need to complete a new PLUS MPN for this endorsed loan
2. Complete Credit Counseling
   When the borrower is initially denied and then approved with an endorser, the borrower must complete the PLUS Counseling before the PLUS Loan can be disbursed. This counseling is a review of loan and repayment obligations, and is available at StudentLoans.gov
3. Complete Entrance Counseling – Graduate Borrowers Only
   Complete the Entrance Counseling required for receiving Graduate Federal Direct loans if this has not already been completed previously

Notify the Office of Scholarships and Financial Aid once the endorsement is approved at financial.aid@nau.edu.

• Who is the borrower?

  • For the Parent PLUS Loan, the parent who applied for the loan is the borrower.
  • For the Grad PLUS Loan, the graduate student is the borrower.

• How can I increase my PLUS Loan?

  • The borrower will need to complete a new PLUS Loan for the amount that he/she would like the loan to be increased by.  This protects the borrower from unwanted loan increases and expedites processing.

• How can I decrease my PLUS Loan?

  • Borrower or student should contact our office and let us know what you would like your PLUS loan to be decreased to.

• When will my PLUS loan disburse?

  • The PLUS loan should disburse in about 6 business days after all items are complete:
    • PLUS Application completed by the borrower
    • PLUS MPN completed by the borrower
    • If the PLUS Loan is endorsed or appealed, PLUS Counseling completed by the borrower
  • As with all financial aid, the initial disbursement is no more than 10 days prior to the start of the term.