What is a PLUS Loan and how do I apply for one?
• A PLUS Loan is a non-need based loan that is available to the parents of dependent students and graduate students. • A dependent students’ parent(s) may apply for a Parent PLUS loan by completing the PLUS loan application available in the OFA or on line (http://www.umflint.edu/finaid/forms.htm). The application is then processed by the OFA and a credit check is performed by the Department of Education. Parent(s) approved for a PLUS loan are then asked to complete the Electronic Master Promissory Note (EMPN) on line. Once all of these requirements are met, the PLUS loan is automatically accepted. With written permission of the parent, funds are applied directly to their student’s account. Otherwise, PLUS loan funds are mailed directly to the parent. • A graduate student may follow a similar process in order to take out additional loan funds after their subsidized and unsubsidized limits have been reached for the academic aid year.
