on:
Federal PLUS Loan Pre-Application Process
Important
Information for PLUS loan Borrowers
For Graduate and Parent Plus Loans:
The Federal PLUS loan pre-application is NOT A LOAN APPLICATION. It is a credit pre-approval form. By completing the loan pre-approval form, you are authorizing Sallie Mae to obtain a current copy of your credit report and to perform a credit evaluation. The loan pre-application must be completed for every loan period.
If your credit is approved, Eastern Michigan University will receive notification from your lender via email. The Office of Financial Aid will send your loan information to your lender and you will be contacted to complete your Master Promissory Note (MPN) online.
In order to receive a Federal PLUS, you must submit a completed and signed PLUS MPN as instructed.
If you have previously completed a PLUS MPN at Eastern Michigan University and wish to stay with the same lender, you will not be required to complete a new MPN.
For Graduate PLUS loans only:
If your credit is denied, you have the chance to apply with a co-borrower. You should contact you lender for information regarding applying with a co-borrower.
For Parent PLUS loans only:
If your credit is denied, the Office of Financial Aid will process an additional unsubsidized Stafford loan in your student's name, provided that your student has the eligibility. If your student does not want the additional unsubsidized Stafford loan, s/he must contact the Office of Financial Aid in writing.
Disbursement Information for Parent PLUS loans:
Parent PLUS loan funds will be sent electronically to Eastern Michigan University. The Office of Financial Aid will apply your Federal PLUS funds to your student's University charges. Any excess proceeds from your PLUS loan will be refunded directly to your student, unless you notify the Office of Financial Aid in writing, prior to disbursement of the loan.
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Click
here to continue PLUS
Pre-Application Process
Click
here to continue Grad PLUS
Application Process
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