This is a loan made to a dependent student’s parent(s) based on credit worthiness. Borrowers may borrow up to the cost of attendance less any other financial aid awarded. The loan amount cannot exceed the cost of attendance. Federal regulations require the loan proceeds be disbursed in two equal amounts. These amounts will be disbursed no more than 10 days before the beginning of the enrollment period for the student. The Department of Education will withhold 4.292 percent in fees from your requested amount.
Elon participates in the Direct Loan program administered by the Department of Education. First-time borrowers are required to complete a new Master Promissory Note with the Department of Education at studentloans.gov.
Learn more about Elon’s Code of Conduct.
Steps in Applying
If you wish to borrow a PLUS loan please follow the steps listed below.
- Complete a Plus Loan Application at studentloans.gov. Elon will be notified of your approval or denial.
- When you complete the Plus Loan Application with the Department of Education please indicate the amount that you wish to borrow. The Office of Financial Aid will not be able to process Plus Loan requests for MAX or UNKNOWN amounts. Request without the amount indicated will require follow-up from the borrower.
- First-time borrowers, complete a Master Promissory Note for your loan at studentloans.gov.
NOTE: If you have been denied a PLUS loan by the Department of Education the Office of Financial Aid will notify the student of their Unsubsidized Stafford Loan eligibility with a new award notification.