Judson University Christian College: Admissions: Undergraduate Studies: Financial Aid: Parent Plus Loan Information Page

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Information and Instructions for the Federal Direct Parent PLUS Loan 

To ensure sufficient time for processing, submit the Parent PLUS Loan Application to the Office of Financial Aid (OFA) prior to the beginning of the enrollment period. The Parent PLUS Loan application can be found at https://studentloans.gov. After the parent completes the PLUS loan application and submits the form to the OFA. Our office will send the application to the Direct Loan Servicing Center for a credit check review. An “accepted” credit decision AND an “accepted” Master Promissory Note (MPN) must be posted with the Direct Loan Servicing Center BEFORE the Deadline Dates listed above.

2011-2012 Deadline Dates 

Enrollment Period 

Last Date to Complete Promissory Note 

Fall and Spring (Academic Year): August – May

June 1, 2011

Fall Only: August – December

June 1, 2011

Spring Only: January – May

December 1, 2011

  •  If parent fails to complete the Parent PLUS MPN within 45 days of the credit approval, this loan may be canceled. 

 If the Parent PLUS Loan is Approved 

  • The Direct Loan Servicing Center will send the approved credit decision to the OFA within 5-7 business days.

For a new Parent PLUS Loan borrower 

  •  The parent must sign a Master Promissory Note (MPN). The MPN can be completed while the credit check review is still pending approval.  

For a continuing Parent PLUS Loan borrower*  

  • Complete the Direct Parent Plus Loan Application.
     
  • The Parent PLUS Master Promissory Note allows the parent borrower to receive multiple PLUS Loans (for the same dependent student) over a maximum ten-year period 

*The parent can confirm that he/she successfully complete the Parent PLUS MPN by logging onto the MPN web site at http://dlenote.ed.gov. Select the “Retrieve MPN” option on this page and follow the prompts. If a Parent PLUS MPN was successfully completed, the site will display the Electronic MPN signed date. 

Parent Signature on the Parent PLUS MPNSigning the Parent PLUS MPN online (Quick and easy!) 

  •  The parent must have a Federal Personal Identification Number (PIN). If a parent does not have a Federal PIN, he/she may apply for one by going to the Department of Education Federal Student Aid PIN Web site at http://www.pin.ed.gov. The Federal PIN acts as an electronic signature.
     
  •  Once the PIN is acquired, the parent must complete and sign the Parent PLUS MPN online at http://dlenote.ed.gov. The MPN can be completed while the credit check is still pending approval.
     
  •  Judson University’s  OFA will receive electronic confirmation of the completed Parent PLUS MPN from the Direct Loan Servicing Center (within 5-7 business days)

    Disbursement of the Parent PLUS Loan 
  •  Once the OFA receives electronic confirmation of the completed Parent PLUS MPN, disbursement of the loan may begin (contingent OFA is within the timeframe to disburse funds).
     
  •  Parent PLUS Loans are disbursed once during the fall and once during the spring (half the loan amount for each term).
     
  •  Parent PLUS Loan funds are disbursed to the parent borrower only after all university charges have been paid for the term (including fees and other charges, if applicable). The preparation to disburse a Parent PLUS Loan cannot occur until all outstanding financial aid requirements affecting the release of funds are resolved/received in the OFA and the student is enrolled at least half-time.
     
  •  Student Accounts at Judson University will verify the students enrollment and continued eligibility and will mail a check to the parent borrowers address, unless the parent indicated on the Application the refund should be released to the student.
     
  •  Important: If a parent does not elect to have the funds issued directly to their student, a paper refund check will be issued and sent to the parent within 14 business days.

    If the Parent PLUS Loan is Denied 
  •  Processing of the Parent PLUS Loan stops.
     
  •  The Direct Loan Servicing Center will notify the parent and explain why the review of his/her credit history was denied. The Direct Loan Servicing Center will also provide the name and address of the credit bureau that supplied the credit data.
     
  •  The parent may contact the Direct Loan Servicing Center to either appeal the decision, or investigate the option of securing an endorser for the loan.
     
  •  If a parent does not respond within 45 days of a denied credit decision, the OFA will cancel the loan.
     
  •  Judson University’s OFA will note the denial on the students account and attempt to offer the student additional unsubsidized Ford Direct Loan funds as part of their financial aid award.
     
  •  If a parent has any questions about credit approval or denial, he/she must contact the Direct Loan Servicing Center at 800-557-7394. 

If the Parent Reapplies with an Endorser 

  •  The Direct Loan Servicing Center will notify the OFA of the results of the endorser’s application.
     
  •  Upon the receipt of the approved credit decision, the parent will need to sign a Master Promissory Note.
     
  •  Refer to the “Parents Signature on the Parent PLUS MPN” regarding the completion of the Parent PLUS MPN.
     
  •  IMPORTANT: If a parent obtains an endorser, he/she must sign a new MPN for each loan. 

Parent PLUS Loan Cancelation 

At any time before the Parent PLUS Loan is disbursed, the parent may decline all or part of the Parent PLUS Loan by notifying Judson University’s Office of Financial Aid. The Parent PLUS Loan and the loan fee will be reduced or eliminated in proportion to the loan amount canceled.

Calculate your payments before you borrow
Go to
 http://www.ed.gov/DirectLoan/RepayCalc/dlentry1.html. 

Financial Aid Counselors

Our counselors are here to help you through the financial aid process at Judson University. You can meet with your counselor at an upcoming campus preview day, or at a campus visit. You may also send them an email about any financial aid questions you might have. Who's Your Counselor? >

File Your Fafsa Today

To Complete your Free Application For Federal Student Aid, please visit www.fafsa.ed.gov. Judson's School Code is 001700

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