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How do I apply for a Parent PLUS Loan?


Last Updated:  3/25/13 8:33:28 PM 8372-8193-4253

Applying for a Federal Direct Parent PLUS loan is a two step process:

  1. filing the FAFSA, and;
  2. accepting an offered Parent PLUS Loan, which initiates your parent's actual loan application for a Parent PLUS Loan and must be approved by the U.S. Dept. of Education.

Due to a change in federal regulations, beginning with the 2011-2012 academic year, all students must complete a FAFSA before they can be awarded a Federal Direct Parent PLUS Loan. Verification of a valid FAFSA on file will be part of the credit evaluation process performed by the lender (i.e., the US Department of Education).

Please visit the Student Aid site for more information on Parent PLUS Loans.

Applying for the Parent PLUS Loan:

Step 1. Student: Go to www.asu.edu/go/parentrelationship and complete the steps to add a parent relationship to your profile.

  1. Select the Add A New Parent Link
  2. Complete the information. The email address added should be the email where your parents receive email
  3. Click Search
  4. Verify the information and select “Add This Parent”
  5. Select “Add Service”. This will send an email to the your parents email (the email you indicated) with instructions on activating their ASURite log in

This will allow your parent to apply for the Federal Direct PLUS loan on your behalf.

Step 2. Parent: After the student completes step one above, you will receive your own ASURITE ID activation code within the next 48 hours at the e-mail address provided in step one. If you do not receive an e-mail, please contact the ASU Helpdesk at (855) ASU-5080. Please do not try to add yourself a second time as this will create additional delays.

Step 3. Parent: When you receive the e-mail, you must activate your ASURITE ID at the link provided in the email.  Note:  You must log out of your student's account before going any further.

Step 4.  Parent: Go to www.asu.edu/go/parentloan, and using your (the parent's) ASURITE ID, accept your Federal Direct Parent PLUS Loan award. Acceptance of the loan will initiate a credit check through the U.S. Dept. of Education. Results of the credit check will be mailed to you directly from the loan servicing department.

Step 5. Parent Go to www.studentloans.gov to fill out your Master Promissory Note (MPN).

 

The parent who applies for and obtains the Parent PLUS Loan, is the only parent who should complete the Parent PLUS Loan MPN.

Note:  If you previously borrowed a Federal Direct Parent PLUS Loan at ASU, you do not need to complete another MPN unless a financial endorser was required at the time of application. If an endorser was required you must complete another MPN.

 



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