Marlboro College

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

Federal Parent Loans for Undergraduate Students (PLUS) loans are borrowed by the parent(s) to supplement the cost of their son or daughter's college education. 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. The first requirement is to apply for the loan; your electronic signature on the application gives the Department of Education permission to run your credit check in an effort to find out if you are approved for the PLUS loan. If approved, you would complete the other two requirements in the ‘Requirements’ section below.

Requirements:

  1. Application (available June 1 each year)
  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 previous two award years, 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 July 1 each year, for the following academic year.

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