Federal Direct Parent PLUS Loan

• Only applicable to Dependent, Undergraduate students.
• Has a fixed interest rate of 8.05% for loans disbursed between July 1, 2023 - June 30, 2024. The interest rate is subject to change on July 1 each year.
• The borrower is charged an origination fee from the Department of Education:
  • 4.228% for loans first disbursed between October 1, 2023 - September 30, 2024
• During the application process a parent can choose to defer payments while the student is enrolled in school; and/or 6 months post-enrollment.
• Interest accrues from the date the loan disburses.
• To be approved, the parent must pass a credit check/not have an adverse credit history.
• If denied, the student may be eligible to receive additional unsubsidized loan money.
• It is recommended that a student borrows the maximum under the Federal Direct Loan program first. The Federal Direct Loan maximum for one academic year is based on the student's grade level, remaining aggregate loan eligibility, and Cost of Attendance.

To receive a Direct Parent PLUS Loan, you must:

• Have a completed FAFSA application on file.
• Not have an adverse credit history
  • Adverse credit history is defined as being more than 90 days late on any debt or having any Title IV debt within the past five years subjected to default determination, bankruptcy discharge, foreclosure, repossession, tax lien, wage garnishment, or write-off.
• The borrower must be the parent (biological or adoptive, or in some cases stepparent) of a dependent undergraduate student.
• Both parent and student must meet all other general eligibility requirements for federal aid.
• Students must be making Satisfactory Academic Progress (SAP)
• The student must be enrolled in at least 6 credits (half-time).
• The student must be a degree-seeking student.
• The Parent who applied must complete Direct Loan Counseling and a Master Promissory Note before the Parent PLUS Loan can be disbursed (See the section below: I was approved for the Parent PLUS Loan, what are my next steps?)

RETURNING STUDENTS:

• We request that your parent does not apply for the PLUS loan until after May 1; prior to the year that the student will attend (i.e. May 1, 2024 for the 2024-2025 Academic Year).

INCOMING/new students:

• We normally request that your parent applies for the PLUS loan between May 1 and June 15; prior to the year the student will attend. 
• This will allow sufficient time for processing the loan prior to billing for the fall semester. 

NOTE: Applications for each upcoming academic year are not available until May 1st.

The maximum amount your parent can borrow in the PLUS Loan is the Cost of Attendance minus any other financial aid awarded.

Please be advised that if you do not indicate a loan period on your loan application, the loan term will default to the academic year (Fall/Spring). It is EXTREMELY IMPORTANT to indicate the correct loan term dates to ensure the correct processing of your PLUS loan.

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2024-2025 LOAN PERIOD DATES

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Summer/Fall/Spring: 05/2024 - 05/2025

• The student must have a Summer Aid Application on file requesting to use the PLUS loan throughout the entire academic year.
  • If you choose the option Summer/Fall/Spring and apply for a specific amount: it will generally be processed and split into thirds.
  • If you choose the option Summer/Fall/Spring and "I wish to receive up to the maximum cost of attendance": your loan will be processed based on the maximum budget for each semester.
  • If you choose the option Summer Only, you will be awarded up to the student's maximum budget at the time we receive the application; which is based on the total number of credits they are enrolled in summer.

Fall/Spring: 08/2024- 05/2025 (recommended option)

Spring Only: 01/2025 - 05/2025 (do not apply until after November 1st)

To apply for a Direct Parent PLUS Loan, you must:

• Go to: studentaid.gov and log in using your (the parent's) information.
  • DO NOT log in using the student's information; the student cannot complete this for you.
  • Parents must log in to their own account using their own FSA ID to complete the application.

To log in, you will need:

• FSA User ID and Password this is the same ID and password used to sign the FAFSA
• To create an FSA User ID click here.
  • If you have forgotten your username or password, you can retrieve it by clicking on the appropriate link below:
    • forgot user name
    • forgot password

Once logged into your account:

• Click on the link that says "Log In To Start"
• Follow directions carefully and complete each section entering award year, student information, requests for deferment and authorization, school and loan information such as loan amount, and the loan period (see above), then click "CONTINUE".
• Enter Borrower Information and confirm submission of credit check; click "CONTINUE".
• Review all information for accuracy before submission; then click "SUBMIT".

Once the application has been submitted:

• You will immediately receive an approval or denial.
• If approved, follow the directions below on how to complete a Master Promissory Note.
• If denied, click here.

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If you have been approved for the Direct Parent PLUS Loan, and choose to borrow the funds, you MUST complete the following:

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Loan Agreement (Master Promissory Note):

1. Log into your account at studentaid.gov using your FSA user ID and password
2. Click on the "PARENT" tab and select "Complete Master Promissory Note (MPN) for a Parent PLUS Loan"; then click start.
3. Enter personal information and Select Millersville from the list of PA schools
4. Provide two personal references. These references are in no way responsible for your loan repayment.
5. Continue clicking through each step until you have signed and completed the form.
6. You will receive a confirmation once your Master Promissory Note has been completely submitted

Parents who are denied a Parent PLUS loan have four options. They can try to appeal the decision with the Department of Education, add an endorser (co-signer) on the loan, or they can choose to not pursue a PLUS loan at this time, or remain undecided. Choosing the option to not pursue the loan or remaining undecided will result in the student being awarded additional unsubsidized loan funds up to the amount of $4000 for students with earned credits between 0 and 59, and up to $5000 for students with earned credits between 60 and 180.

Please click here to see additional information on your Parent PLUS Denial Options and how to complete them.

• 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.
• During the repayment period, under certain circumstances, the USDE may grant deferments, forbearances, or cancellations. Parent must contact USDE.
• Yearly limit is equal to the student's Cost of Attendance minus any other financial aid received by the student.
• 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.

In accordance with U.S. Department of Education regulations (HEOA 489 amended HEA Sec.485B), Millersville University and the Office of Financial Aid acknowledges to students and parents that when the student enters into an agreement regarding a Title IV (HEA) loan, i.e.: Direct Stafford Loan and Direct Parent PLUS Loan that the loan will be submitted to NSLDS (National Student Loan Data System) and accessible by authorized agencies, lenders, and institutions.

Lyle Hall, 2nd Floor, Room 241

Office Hours:
Standard: Mon.-Fri. 8:00 am to 4:30 pm (mid-August to mid-May)                                                                Summer: Mon.-Fri. 8:00 am to 4:00 pm (mid-May to mid-August)

Call Center Hours:
Available by Phone: Mon.-Fri. 8:00am to 6:00pm 

Phone: 717-871-5100                           
Fax:  717-871-7980 
Email: fa.mail@millersville.edu

USPS Mailing Address:
Office of Financial Aid
Millersville University
P.O. Box 1002
Millersville, PA 17551-0302

Address for UPS/FedEx:
Office of Financial Aid
Lyle Hall, 2nd Floor
40 Dilworth Rd
Millersville, PA 17551-0302