Fin Aid - Loans
Q: Loans - I cannot accept the PLUS loan or private loan online in LOUIE the way I can accept my other awards. How do I get these loans?
Q: Loans - I completed my MPN and Entrance Counseling this morning. Why are they still on my LOUIE To Do List?
The Parent PLUS Loan for Undergraduate
Students is available to parents of dependent undergraduate students to assist
in paying for educational costs after other financial aid has been awarded. The
funds are borrowed directly from the Department of Education
. The student will see
an award named 'PLUS Loan - Offered' on his/her Award Letter. To apply, parents
complete the online Parent PLUS Loan Application
. A credit
check is done by the Department of Education and the parent is notified
immediately of the result. If approved, parents must complete a Master Promissory Note
(MPN). If denied, the parent can appeal
the decision or seek an endorser. The Private/Alternative Loan offer is the
maximum amount that students could receive through a private loan, usually obtained
through their bank or other lender. Students apply through the lender, which
then works with NAU to transfer the funds.
MPNs and Entrance Counseling are done
through Department of Education
. Schools receive this
completed information regularly, however, it may take 3-5 days to show as a
completed item in a student's LOUIE account