Plus Loan Steps

Students must do the following steps:

  1. Complete the Free Application for Federal Student Aid (FAFSA) or Renewal FAFSA online
  2. Determine the amount of loan funds you will need to pay for your College education and how much your parent needs to borrow to cover your costs.

Parent borrow must do the following steps:

  1. Complete the Master Promissory Note (MPN) online and indicate the amount you wish to borrow and electronically sign the note.
  2. Please allow 4 to 6 weeks for processing the loan application and to complete the certification process.
  3. You will be notified by the Department of Education regarding your application status. If you are denied the PLUS loan, your student is eligible to apply for additional loan funds from the Federal Direct Stafford Loan program.
  4. You will sent an loan approval notice by the Financial Aid Office that the loan has been certified, the amount certified, when and how disbursement will occur each term and any other conditions required before receiving the loan funds.
  5. Loan funds will be credited to the students account and any credit balance remaining will be disbursed to you at the mailing address indicated on the Master Promissory Note. Please keep the College informed of your current mailing address.
  6. You have the option to have the excess loan funds disbursed directly to the student. You will need to notify the Student First Stop Center in writing that you are authorizing the College to disburse funds to the student.
  7. Loan funds may not be certified if the student is no longer in attendance at Southwestern.

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