Next steps for Parent PLUS Loan borrowers
If you wish to use your PLUS Loan funds to pay your fall fees, please complete these steps no later than September 1 of the academic year for which you are applying.
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. Have your parent complete the following steps to receive the PLUS Loan funds:
1. Request PLUS Loan
- Complete the Federal Direct PLUS Loan Request Form available online at www.studentloans.gov . 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 when the PLUS Loan is approved by the federal processor.
Note: PLUS Loan funds are generally applied to your student account. However, your
parent may request any credit balance after their PLUS Loan has been applied to your
quarterly UCR charges to either be paid to you or refunded to them. Please note that
if your parent chooses to receive the refund, the full quarterly PLUS amount will
still be included in any "projected refund" amount on your student account. However,
to calculate the correct amount of your refund, subtract the amount of the PLUS Loan credit from the projected refund on your Growl Monthly Billing Statement or Current Activity
since it will actually be refunded to your parent.
2. Promissory Notes (New borrowers only)
- Submit an electronic PLUS Loan Master Promissory Note online at www.studentloans.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.