Parent Loan Information Form (Page 2 of 2) in pdf

If your PLUS Loan is denied by Direct Lending, you may select one of the following options:

Option 1 – Endorser

I, the parent, wish to obtain an endorser (co-signer) in order for my PLUS Loan to be re-evaluated.

*If you wish to obtain an endorser/co-signer, the Common Origination and Disbursement Center will mail the

endorser application directly to you after the PLUS Loan has been denied.

____________________________________________________________

____________________

Signature of Parent Requesting the Loan

Date

Option 2 – Additional Unsubsidized Loan

I, the student wish to borrow the maximum available to me in a Federal Direct Unsubsidized Loan.

*The amount of the Unsubsidized Loan that may be borrowed is contingent upon the student’s degree of

financial need based on their cost of attendance as well as their grade level.

Freshmen & Sophomores (0-59 credits) may be eligible to borrow up to an additional $4,000 per academic year.

Juniors & Seniors (60+ credits) may be eligible to borrow up to an additional $5,000 per academic year.

____________________________________________________________

____________________

Student Signature

Date

Estimated Federal Direct Parent PLUS Loan Repayment Chart

Currently the Federal Direct Parent PLUS Loan interest rate is fixed interest rate of 6.41%. Interest is charged

beginning on the date of your loan’s first disbursement.

A loan origination fee of 4.204% is deducted before you receive any loan money, so the loan amount you

actually receive will be less than the amount you have to repay.

Borrowers may switch repayment plans to meet their changing needs.

Graduated Repayment Plan

The final year of repayment may be less than 12 months.

 Monthly payment amount: lower at

first and gradually increases, usually

Extended Repayment Plan

every two years

 Monthly payment amount: fixed or

Standard Repayment Plan

 Repayment period: up to 10 years

 Monthly payment amount: fixed

graduated

 Repayment Period: up to 25 years

 Minimum payment: $50

 Repayment period: up to 10 years

*A repayment calculator to estimate your monthly payments can be found by going to

and clicking on “Repay Your Loans”

08/2013

Parent Loan Information Form Page 2