Next steps for new Parent PLUS Loan borrowers

If your financial aid award includes a Federal Direct Parent PLUS Loan, and you and your parents want to accept this loan, log into  GROWL  and accept the PLUS Loan offer on your financial aid award. If your parent has not previously borrowed a PLUS Loan, have your parent complete the following steps to receive the PLUS Loan funds:

1. PLUS Loan Request

- Complete the Federal Direct PLUS Loan Information Request Form available online at www.plusrequest.ucr.edu . The PLUS Request is a loan application, where your parent can indicate the amount he or she wishes to borrow. Completion of the PLUS Request does not obligate your parent to repay the loan. Once the PLUS Loan Request has been submitted, a credit check will be conducted by the Federal Direct Loan Servicer. Your parent will be notified once the PLUS Loan is approved by the federal processor. Allow 7 to 10 days for this approval.

2. Promissory Notes

- Submit an electronic PLUS Loan Master Promissory Note online at www.dlenote.ed.gov . The electronic Master Promissory Note must be submitted and approved by the Direct Loan Servicer before funds may be disbursed. The PLUS Loan Master Promissory Note is a multi-year note designed to cover the maximum loan amount your parent chooses to borrow for all years of your enrollment at UCR. Your parent will receive a disclosure statement each year identifying the exact amount disbursed.

3. PLUS Loan Borrower Authorization Form

 - Sign and return the PLUS Loan Borrower Authorization Form confirming the amount that the parent wishes to borrow for 2008-09. This form will be mailed to your parent within 10 business days of submitting the online PLUS Request. If your parent is not a U.S. citizen, the parent must submit a photocopy of his or her Alien Registration Card to the UCR Financial Aid Office along with the PLUS Loan Borrower Authorization Form.


If your parent is a repeat PLUS Loan borrower, they will be mailed a PLUS Loan Borrower Authorization form to complete, sign, and return to the UCR Financial Aid Office, verifying the amount that they wish to borrow for the 2008-09 award year under their existing PLUS Loan Master Promissory Note.

Federal Direct PLUS Loan funds are generally disbursed to your student account. If your parent requests direct payment by check, the PLUS Loan will not be used to pay your fees and other institutional charges. Information regarding the process to request payment by check will be included with the PLUS Loan promissory note. This direct disbursement option may result in delayed receipt of loan funds.

If you wish to use your PLUS Loan funds to pay your fall fees, please complete these steps no later than September 1, 2008.