Loans FAQ

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?
A:   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.
Q: Loans - I completed my MPN and Entrance Counseling this morning. Why are they still on my LOUIE To Do List?
A:   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.