Parent Loan for Undergraduate Students (PLUS)

The PLUS loan 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 US Department of Education. 

Students will see an award named "PLUS Loan - Offered" on his/her Award Letter or in the LOUIE account. This is the maximum amount a parent may be eligible to borrow. 

How does my parent apply for the PLUS Loan? 

Complete the Parent PLUS Loan Application.   

Completing the online application:

• Parent will need to use their PIN that they created for the FAFSA. If a new PIN is needed or forgotten, go to pin.ed.gov.
• A credit check is done immediately, and the parent will be given options based on the credit decision. 
• The application is sent electronically to the Financial Aid office, who will award the student based on the outcome of the application. 

Approval

If approved, the parent who completed the loan application must also complete a PLUS Master Promissory Note (MPN) prior to funds being released. 

• Parent will accept or decline the loan after the credit check results are received by NAU.
• Parent will sign the PLUS MPN at studentloans.gov using their electronic PIN. 
• PLUS loan funds will pay charges (tuition, fees, housing and other current charges) on the student account. A refund for any excess funds will be sent to the parent via mail in the form of a check. However, if the parent chose for the student to receive the excess funds, they will be deposited into the student's account electronically (if direct deposit is set up) or mailed in the form of a check to the student's address on record.  

For more information, see the Parent PLUS Loan Terms. 

Denial

If denied, the parent has three options:

• seek an endorser/cosigner (information will be sent to parent)
• appeal the decision (form will be sent to parent)
• request an unsubsidized loan for the student 

This denial decision will be sent electronically to the Office of Student Financial Aid, who may award the student an unsubsidized loan, based on the parent's request on the application, or will hold the application as pending until an endorser is obtained or an appeal is granted.

The Department of Education will send the parent documents regarding the denied PLUS loan application. These documents will include endorser/cosigner information along with an appeal form. For the fastest processing time, if the parent will seek an endorser/cosigner or appeal the decision, please initiate the endorser/appeal process at studentloans.gov by signing in with the Parent's Federal PIN that completed the original PLUS application.

If the parent will seek an endorser/cosigner or appeal the decision, please contact us as soon as possible. Failure to do so could lead to your pending loan being cancelled.