If you are interested in applying for a Federal PLUS loan for the spring 2010 term - please contact the Office of Financial Aid at 717-872-3026.

INFORMATION FOR THE FEDERAL DIRECT PLUS LOAN FOR SUMMER 2010 ONLY!

If you are apply for a Federal Direct PLUS loan for the Summer 2010 term (for students enrolled in Summer 1, 2, or 3 at Millersville University), please use our paper form to apply for the Federal Direct PLUS Loan.  This paper form is only good for the Summer 2010 term (not fall/spring).

Please note - the student must also complete the Summer Aid Application and must be enrolled for at least 6 credits during the summer.

INFORMATION FOR THE FEDERAL DIRECT PLUS LOAN FOR FALL 2010 and/or SPRING 2011!

• For returning students, we request that parents do not apply for the PLUS loan until after May 1 prior to the year the student will attend (i.e. May 1, 2010 for 2010-2011 academic year).
• For parents of incoming freshman students, we normally request you apply for the PLUS loan between March 15 and June 15. This will allow sufficient time for processing of the loans prior to billing for the fall semester.  However, for the 2010-2011 academic year, we request you do not do anything until May 1, 2010.
• FAFSA is not required to apply for the loan. However, the FAFSA is used to verify a student’s dependency status. If the FAFSA is not completed, the student must verify that s/he is a dependent student by completing the PLUS Dependency Status Form (available through Financial Aid Forms under Quick Links to the left).
• A parent is the borrower.
• Parent must pass a credit check (see more information below the lender chart)
• The interest rate for new PLUS loans is a fixed rate of 7.9%
• Loan funds are sent to the school by the U.S. Department of Education (USDE)
• Please be advised that if you do not indicate a loan term on your loan application, the loan term will default to the academic year (fall/spring). It is EXTREMELY IMPORTANT to indicate correct loan term dates to ensure the correct processing of your PLUS loan.
• The loan term dates are used as follows:
  • For the entire academic year (Fall/Spring), use 8/30/10 - 5/06/11
  • For the Fall only, use 8/30/10 - 12/18/10
  • For the Spring only, use 1/17/11 - 5/06/11
• The school can refuse to certify a student's loan application OR certify the loan for an amount less than the student would otherwise be eligible. The school must document the reason for its action and explain the reason to the student in writing. The decision of the school is final and cannot be appealed to the Department of Education.
• Effective for any loan disbursed after July 1, 2008, the Federal Direct PLUS Loan will be deferred until six months after the student ceases enrollment at least part-time.  If you would like to start repayment, you must contact USDE once the loan has been processed by Millersville University.
• During the repayment period, under certain circumstances, the USDE may grant deferments, forbearances, or cancellations. Parent must contact USDE.
• PLUS application can be obtained from the USDE
• Enables parents with good credit histories to borrow to pay the educational expenses of each child who is a dependent undergraduate student enrolled at least half time.
• Yearly limit is equal to the student's Cost of Attendance minus any other financial aid received by the student.
• Fees of 4% of the loan will be deducted from the total loan amount at the time of disbursement. We recommend when calculating how much you need, you anticipate the 4% of fees which are withheld [i.e. the calculation would be amount you need divided by 0.96. Example: If you anticipate you need $5000 to cover expenses, then you would want to apply for $5,000 / 0.96 = $5,209 (rounded off to the next whole dollar)]
• Parent may cancel all or a portion of the loan within 14 days after the date the school has sent notification that the loan funds have been credited to the student's account. Contact the Office of Financial Aid to cancel the loan.
• Interest is charged from the date the first disbursement is made until the loan is paid in full.
• Parent has up to 10 years to repay loan depending on the size of the parent's debt.
• The student must be a degree seeking student.

TO APPLY FOR THE FEDERAL DIRECT PLUS LOAN, PLEASE USE THE FOLLOWING LINK - this link is not currently available, but should be by May 1, 2010.  Please check back at that time.