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
If approved, the parent who completed the loan application
must also complete a PLUS Master Promissory Note (MPN) prior to funds being
- 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
- 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.
If denied, the parent has three options:
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
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
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.