How to Apply for Federal Direct PLUS Loans

ATTENTION:  Federal Direct PLUS Loan applicants for 2017-2018 - The credit check is good only for 180 days from the date of your application. Do not apply before April 1, 2017. 

Federal Direct PLUS Loan (Parent Borrower)

  1. To begin your loan process, Click the button: Direct Plus loan
  2.  Click on the LOG IN button and enter the [parent] FSA ID (or Username/Password).
  3. Select Apply for a Direct PLUS Loan
  4. Select Direct PLUS Loan Application for Parents, then click START and provide all requested information.
  5. Select the appropriate Award Year.
  6. For Loan Amount Requested, select I would like to specify a loan amount.  (For help determining the amount to enter for your Federal PLUS Loan, refer to the Cost Estimate Worksheet found here or provided in the financial aid award letter packet.)
    • For loans where the first disbursement is made on or after October 1, 2016, the federal loan fee is 4.276%.  Be sure to factor in the 4.276% federal loan fee before specifying a loan amount.  For example, if you will need $10,000 to cover your balance due, you should request $10,446 ($10,000 divided by .95724 dropping the cents).
  7. If you are credit approved for the Federal Direct PLUS Loan, you will be prompted to complete an MPN (Master Promissory Note) if there is not already one on file for you.
  8. If you are not credit approved for this loan, the following options are available:
    • You may appeal the credit decision by calling the Direct Loan Customer Service Center,1-800-557-7394. OR
    • You may pursue this loan by obtaining a credit-worthy endorser.  Your endorser will need an FSA ID to complete the endorser addendum on-line.  Direct them to studentloans.gov and select Create an FSA ID.    OR
    • The student may borrow a supplemental unsubsidized Federal Direct Stafford Loan (up to $4,000 for freshmen/sophomores or up to $5,000 for juniors/seniors).  Contact the Financial Aid Office by phone, 434-223-6119, or by email, hsfinaid@hsc.edu, and we will provide the Supplemental Unsubsidized Federal Direct Stafford Loan Request Form.