William D. Ford Federal Lead Moms and dad Along with Loan (Lead Plus Loan)

William D. Ford Federal Lead Moms and dad Along with Loan (Lead Plus Loan)

Get-off Guidance: Once you graduate, stop attending or are no longer enrolled in at least Related Site 6 credit hours, you will be required to complete Exit Counseling, even if you plan to transfer to another school or return to Ivy Tech Community College in a future semester. Exit Counseling explains your responsibilities for repayment of your Direct Loan and provides information on how to manage your student loans. To complete Exit Counseling, visit and click on the “Complete Exit Counseling” link.

Repayment: Since this is a loan, you must repay the funds you borrowed along with any interest or fees that may have accrued.

You will find several cost alternatives. The quantity and you will amount of your instalments depends on just how much your own borrowed and you may which fees package you choose. Getting information about the many fees arrangements, head to .

To locate a complete reputation of your own federal loan credit and you will to track down the loan servicer (in the event the loan(s) was basically assigned to an excellent servicer), log in to the latest Federal Student loan Data Program (NSLDS) within nslds

As soon as your loan is in cost, it could be assigned to financing servicer. You happen to be informed who’s repair your loan(s) before you can enter fees. ed.gov using your FSA ID.

On the Direct Financing system, the fresh You.S. Agencies from Education is the financial for the education loan. New Head Along with loan program is available to help you parents from an excellent founded undergraduate pupil that is eligible for school funding. Rather than the brand new Direct Funds for students, even if, mothers making an application for a direct In addition to Loan need to see specific borrowing from the bank standards.

  1. The beginner need to done a no cost App to own Federal Student Services (FAFSA) within which have Ivy Technology People College indexed as among the college or university selection (university code: 009917). For folks who or even the college student have to complete various other files, men and women should also become analyzed from the Educational funding Workplace before the loan qualifications is computed.
  2. Sign up to presenting the FSA ID. Under “Apply for Help” lick towards the relationship to “Submit an application for a daddy Along with Loan” and you can proceed with the methods. Note: A credit assessment is performed.
  3. In the event the credit is approved, attempt to done a king Promissory Mention (MPN). Definitely finish the MPN to the “Mother As well as” financing choice.
  4. Your information will be sent to Ivy Tech Community College, where the School funding Workplace will determine the maximum amount you can borrow. The Financial Aid Office will process your loan for the amount requested or the amount available, whichever is greater. Please note: if you selected the loan period for the entire academic year, your loan amount will be split in to half for fall semester and half for spring semester.

If your credit is not approved during the credit check process, you still have options if you wish to receive the Direct PLUS Loan. You will be notified of these options after the credit check is complete or you can contact your student’s campus Educational funding Work environment for information. If you are not able to obtain a Direct Parent PLUS Loan, your student may be eligible for additional Direct Unsubsidized Loan funds. The student should contact his/her campus Financial Aid Office for more information.

Credit Restrictions: The amount a parent can borrow is based on the student’s enrollment, grade level and other financial aid received. Based on these factors, the Financial Aid Office will determine the maximum amount you can borrow.

You’ve got numerous servicers dependent on your loan record

Send and you may Refunds: All federal student aid, including Direct PLUS Loans, must first be sent to Ivy Tech Community College to pay any outstanding tuition, fees or other applicable charges. If there are excess funds from the Direct PLUS Loan after all applicable charges have been paid, a refund will be generated. Visit for more information on the posting and refunding process.

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