Federal Direct PLUS Loan Instructions for 2008-09

Undergraduate Students

If you are an eligible undergraduate student who is enrolled at least half-time in a degree-seeking program, and your parents meet the borrower eligibility criteria for a Federal Direct PLUS loan, they can choose to borrow a Federal Direct PLUS Loan to help pay educational expenses for you. Although the maximum amount an eligible parent can apply for each academic year is the amount noted on your FAN, they can choose to apply for an amount lower than what was originally offered. Your parents are under no obligation to secure this loan, and are encouraged to only apply for what they feel is necessary given the family's financial situation.

Your parent's loan application should reflect the amount of funds they wish to borrow for your actual period(s) of enrollment. Approved loan amounts will be disbursed half in the fall and half in the spring if you are enrolled for the entire academic year (fall and spring). Please have them apply for a single term loan if you only plan to enroll for a single semester in the academic year. The approved loan will disburse in that semester.

For students graduating in the fall, notify Student Financial Assistance in writing that you plan to graduate and will only need your loan for one semester. If we are not notified the award will be split over the full year.

Instructions for Student

1. Go to: www.asu.edu/go/parentrelationship
   • Enter your parent’s full name, date of birth, a valid email address, and their Social Security Number (optional).
   • Select: Add a New Service, this allows your parent to apply for the Federal Direct PLUS loan on your behalf.

Instructions for Parent

2. After the student completes the first step, you will receive your own ASUrite ID activation code within the next 48 hours at the email address provided in step 1. If you do not receive the email, please contact the ASU Helpdesk at (480) 965-6500. Please do not try to add yourself a second time as this will create additional delays.
3. When you receive the email, you must activate your ASUrite ID at the link provided in the email.
4. Go to: www.asu.edu/go/parentloan
   • Using your ASUrite ID, accept your Federal Direct PLUS Loan award.
   • Acceptance of the loan will initiate a credit check through the Department of Education.
   • Results of the credit check will be mailed to you directly from the loan servicing department.
5. Go to: www.dlenote.ed.gov to fill out your Master Promissory Note (MPN)
   • Complete new MPN for Parent PLUS Loans
   • If you previously borrowed a Federal Direct 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.

Receiving Your Loan Funds

All PLUS Loan funds will be disbursed to the student through Electronic Fund Transfer (EFT) and will be applied towards the student’s outstanding charges no earlier than seven days prior to the start of the semester. Any remaining funds will be disbursed to the student via paper check or direct deposit to their personal bank account (the student can set this up through their ASU Interactive). If you are a fall/spring student, funds will be disbursed as a fall/spring loan (half in the fall and half in the spring). Students attending one term only are the only students eligible to apply for a single term loan.

Note to Eligible Non-citizens

Your parent must provide documentation (copy of both sides) to Student Financial Assistance after accepting a Federal Direct PLUS Loan. The following are acceptable forms of documentation:

• Alien Registration Card (I-551 or I-151)
• Arrival-Departure Record (I-94)