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Federal PLUS / Grad PLUS Loans

Federal Direct PLUS Loans are unsubsidized loans for the parents of dependent students and for graduate students.  PLUS loans help pay for education expenses up to the cost of attendance minus all other financial assistance.  For more detailed information, including eligibility requirements, loan limits, interest rate, and loan charges visit the Federal Student Aid site.

Parents and graduate students interested in borrowing a PLUS Loan must first apply for their federal PIN at www.pin.ed.gov, if a PIN has not been previously obtained.  Your PIN is needed to complete your loan requirements as well as to sign the FAFSA which must be submitted for the academic year you intend to borrow the PLUS Loan whether or not you wish to be considered for other need-based federal aid.  In situations where there is a custodial and a non-custodial parent, only the custodial parent must complete the FAFSA.  Note: If your FAFSA is selected for verification, the HWS Office of Financial Aid will contact you regarding additional documents required prior to processing your loan.

You may borrow a PLUS Loan for fall semester only (August – December), spring semester only (January – May), or for the entire academic year (August – May).  When you, the borrower, are ready to begin the PLUS Loan application process, go online to http://studentloans.gov and sign in using your social security number, your date of birth and your federal PIN.  After you have successfully logged in, click on the link to Request a Direct PLUS Loan and refer to the steps below.

Parent PLUS Loan

  1. Select Parent PLUS as your loan type and complete the credit check application process.  If you are borrowing Parent PLUS Loans for more than one student, you will need to complete a separate application for each one.

  2. If you are approved, complete the Master Promissory Note (MPN) for the Parent PLUS.  If you are borrowing Parent PLUS Loans for more than one student, you will need to complete separate MPNs for each one.  You do not need to complete a MPN if you completed one in a previous year unless you had an endorser for a previous year’s loan or your student is transferring to HWS.  If you are not approved, contact the Office of Financial Aid at 315-781-3315.  Your student may be eligible for additional unsubsidized loan funds.

 

 

Tips for Parents

Financing your student's education: http://mappingyourfuture.org/parents/

Graduate PLUS Loan

Graduate students may request a Graduate PLUS loan. 

  1. Select Graduate PLUS as your loan type and complete the credit check application process.

  2. If you are approved, complete the Master Promissory Note (MPN) for the Graduate PLUS.  You do not need to complete a MPN if you completed one in a previous year unless you had an endorser for a previous year’s loan or you are transferring to HWS.  If you are not approved, contact the Office of Financial Aid at 315-781-3315.  You may be eligible for additional unsubsidized loan funds.

  3. You must also complete Entrance Counseling requirements in order to receive loans as a graduate student unless you received a prior Graduate PLUS Loan.

Tips for Graduate Students

Planning your future: http://mappingyourfuture.org/graduate/