Marlboro College

Offices Applying for Federal Parent Loans for Undergraduate Students (PLUS)For BSMIS Students

Federal Parent Loans for Undergraduate Students (PLUS) loans are borrowed by the parent(s). All PLUS loans must be borrowed through the Federal Direct Loan Program (officially known as William D. Ford Federal Direct Loan Program). Your lender will be the U.S. Department of Education.

Federal PLUS loans are, in part, credit based. Requirement #1 is to apply for the loan; an electronic signature on the application is giving the Department of Education permission to run your credit in an effort to find out if you are approved for the PLUS loan. If approved, you would complete Requirement #2 and #3 in the ‘Requirements’ section below.

Requirements:

  1. Application
  2. Master Promissory Note (MPN)
  3. Marlboro College’s PLUS processing form

How do I apply?

Why is a master promissory note (MPN) needed for my PLUS loan?

If you are borrowing a Federal PLUS loan you must complete a master promissory note. This note is your contract; by signing it you are agreeing to repay your loan and abide by the terms and conditions of the loan. If you applied for and borrowed a PLUS loan in the 2010-2011 or 2011-2012 award year check with the financial aid office to see if a new MPN is needed.

What are the benefits of the Direct Loan Program?

The loan has a fixed interest rate of 7.9%. PLUS loans can be less expensive over the life of the loan than alternative or private loans.

Where do I obtain the Marlboro College PLUS processing form?

Contact the financial aid office for the correct form or for more information.

Do I have a deadline?

Marlboro College’s deadline is September 7, 2012.

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