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This web site provides information to help parents apply for and obtain a PLUS loan for their children.
If you are a graduate/professional student and would like to apply for a loan for your own education, please click here.
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Important Information about Loans by Web™ - E-Sign |
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+ If your school has instructed you to apply using Loans by Web, click here. |
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+ Be sure to follow the directions your school gives you for accepting your loan. |
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+ If you have already started your application at Loans by Web, Resume the e-signature process for Loans by Web. |
Our web site provides you with these options:
- Obtain a pre-approval decision for a Parent PLUS loan
- Apply for a PLUS loan online
- E-Sign a PLUS Loan Application and Master Promissory Note (MPN)
- Sign a PLUS MPN with an ink pen on paper
Important Information about E-Sign
You now have the option to sign your MPN electronically with your U.S. Department of Education PIN. If you do not have a PIN, you can apply for one on the U.S. Department of Education website.
We highly recommend you verify your PIN status before entering the PLUS Web Site, especially if you would like to sign your MPN electronically.
Important Information about Loans by Web™ - E-Sign!
If your child's school participates in Loans by Web™, our PLUS web site will provide you with a PLUS loan pre-approval decision. Please follow the school's instructions for accepting your PLUS loan.
You will be able to resume the e-sign process from our online application entry page once you have started the process at Loans by Web.
PLUS Frequently Asked Questions (FAQs)
What is a PLUS loan?
A PLUS loan is a federally insured loan a parent receives for a dependent undergraduate student.* Parents may borrow up to the cost of education, minus any other financial aid received. The PLUS loan is not based on need. However, the applicant must be determined creditworthy based on Federal regulations and/or lender criteria. PLUS loans are the parent's loan, not the student's. Repayment begins when the loan is fully disbursed and the first payment on the loan is usually due 60 days after the loan is fully disbursed.
*For PLUS loans certified by the school on or after July 1, 2006, PLUS loan eligibility was expanded to include graduate or professional students. If you are a graduate and professional student and looking for information to apply for a Grad PLUS loan to pay for your own educational expenses, please click here.
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Is the PLUS pre-approval an application?
No. The PLUS pre-approval process only reports your eligibility (creditworthiness) for a PLUS loan. You will still need to submit an application to receive a PLUS loan, if credit is approved. Depending on school preference, our site will enable you to complete and sign your PLUS Loan Application and Master Promissory Note (MPN) electronically with a U.S. Department of Education PIN or the "old-fashioned" way, with an ink pen.
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I would prefer not to provide my SSN over the Internet. Do
I have any other options to obtain a PLUS pre-approval?
We provide a secure environment for the on-line PLUS pre-approval request. We understand your privacy concerns, however, and do offer other options for you to obtain a PLUS pre-approval. You may download a PLUS pre-approval form or call our offices to obtain a PLUS pre-approval over the phone.
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The school my child is attending isn't on the list of eligible
schools. How can I obtain a PLUS pre-approval?
Call Loan Originations toll-free at 866-358-4537 or local at 806-324-4100 and choose option 5. We can process a PLUS pre-approval over the phone or with a paper form.
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Do I have to choose a lender on the list?
Yes. These lenders contract with PPSLC for loan origination services. Choosing one of these lenders assures you you'll receive personal attention from our caring, dedicated, and professional staff.
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Why do you ask for a requested loan amount?
The requested loan amount is for the school's convenience. Federal regulations require that you provide your school and/or lender with a requested loan amount before the loan is disbursed. If approved for a PLUS loan, the loan amount will be the lesser of the amount you are eligible for or the requested loan amount. For example, if you request $5,000 and you are eligible for $10,000, the loan amount the school will certify will be $5,000. If you would like to change your requested loan amount, please contact the school you selected on the pre-approval request form.
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What happens if my request is denied?
Your child may be eligible for additional unsubsidized Stafford funds. You and the school you listed on the PLUS pre-approval form will be notified of the credit decision. Contact the financial aid office where your child is attending to find out more.
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My loan request returned a review decision. What does that
mean?
It means the system could not automatically evaluate the credit information. A Loan Originations Specialist will be notified to review the credit bureau report and determine your eligibility. If you provide an email address, you will be notified when a decision is made. The school will also be notified of the decision.
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Do I need to complete more than one PLUS pre-approval, if
I need to obtain PLUS loans for different children?
Yes. You will need to complete an additional PLUS pre-approval for the 2nd child. And, depending on the school selected, you will be given the opportunity sign your PLUS MPN electronically or finish your MPN at another site. The credit decision used on the initial request (approved or denied) will be used for any subsequent applications for a 90 day period. When you return to the web site, enter the 2 nd child's name, SSN, and school information so the school can be notified of the decision.
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Can I submit my PLUS loan application and MPN directly to
the school instead of requesting pre-approval on-line?
Most schools prefer to have the decision as to your eligibility prior to you completing the actual application. If your request is denied, the schools will skip the step of having you complete an application. This saves you and the school time in completing an application that will not be used.
One of the features of our web site enables you to complete and sign your PLUS Application and Master Promissory Note electronically. You may be able to e-sign your PLUS MPN with a U.S. Department of Education PIN. You may also choose to print out the form and sign it with an ink pen. Some schools prefer to use the Loans by Web product offered by TG. If this is the case, the site will allow you to complete the pre-approval section only. You will complete the PLUS MPN at Loans by Web once notified by the school.
If you would like to submit an original signed PLUS MPN and/or PLUS Pre-Approval Form directly to us, please mail to:
PPSLC
ATTN: Loan Originations
PO BOX 839
Canyon, TX 79015-0839
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How long will PPSLC store my credit requests so I can come
back and print and/or view the requests?
90 days from the date of the pre-approval request.
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Do I need a separate PLUS MPN for each of my children?
Yes. If you have multiple beneficiaries, you will need a separate PLUS
MPN for each child (beneficiary).
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Will I be able to sign the PLUS MPN electronically?
The system determines the signing options available to you once your eligibility for a PLUS loan has been established. If you have a U.S. Department of Education PIN, you will have the option to sign your PLUS MPN electronically. If you do not have a PIN, you can obtain one by visiting the U.S. Department of Education web site. You'll always be given the option to sign your PLUS MPN the "old-fashioned" way. In addition, if the school your child is attending is a Loans By Web school, your school will provide you with options to complete and sign your PLUS MPN.
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Do I need any special software or hardware to sign my PLUS
MPN electronically?
You need to be able to view and print a PDF file. For this, you will need Adobe Reader, version 4.0 or greater. You also need to be able to print out a copy of the PLUS MPN, even if you choose not to print it out. Before you sign electronically, you will be asked to acknowledge you have the required software and hardware.
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Can I apply for a PLUS loan online?
Yes. Once your request is approved, you'll be directed to apply for and sign your PLUS MPN on this web site or on TG's Loans by Web. The school will notify you when it is time for you to complete your PLUS MPN, if the school is using TG's Loans by Web. Our site may allow you to complete and sign your loan application and MPN, electronically with your U.S. Department of Education PIN or the "old-fashioned" way, with an ink pen on paper.
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Will I have to complete a new PLUS MPN each year?
No. The PLUS MPN is valid for a ten-year period once a loan disbursement has been made in the 12 month period after you signed it. The PLUS MPN is a promissory note between you and the lender you selected specifically for the beneficiary you named. The PLUS MPN may be used for loans made at different schools, even if your beneficiary changes schools. Our web site will identify whether we have a valid PLUS MPN on file. If so, you will have an opportunity to select the same lender for your
new loan or complete a new PLUS MPN.
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Can I consolidate my PLUS loans?
Yes. Once the loan is fully disbursed, the loan may be consolidated in a FFELP consolidation loan.
I have a question that wasn't answered in the FAQs. How can
I find out more?
Contact us. We would be happy to answer any questions you have about PLUS and/or Stafford loans. Please contact Loan Originations by email or call us direct and toll-free at 866-358-4537 or local at 806-324-4100, choose option 5.
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