James Madison University

Parent PLUS Direct Loan Application

Steps to apply:

Step 1: Your student should have completed the Federal Application for Federal Student Aid (FAFSA) and you should have received a Financial Aid award notice from our office stating your Parent PLUS Direct Loan eligibility.

Step 2: If you wish to apply for a Parent PLUS Direct Loan, please complete and submit this Loan Request Form (LRF) to the Office of Financial Aid and Scholarships. You may apply for a loan amount up to the amount listed on your student's Financial Aid Award Notice. We encourage you to borrow only what you need. This LRF authorizes the financial aid office to electronically transmit the necessary data to process your Parent PLUS Direct Loan. Please read the
JMU Terms and Conditions for Financial Aid. REMEMBER THIS IS A LOAN AND MUST BE REPAID.

Step 3:
James Madison Unversity participates exclusively in the Federal Direct Loan program.  All PLUS Loan borrowers will need to complete a Direct Loan Master Promissory Note (MPN) with the Department of Education to obtain a Parent PLUS Direct Loan for the 2013-2014 aid year.  You can complete the Master Promisory Note online at www.studentloans.gov.


Step 4:
Your loan funds will be disbursed in two equal disbursements across semesters.  TheParent PLUS Direct Loan has a 4.204% origination fee. This fee will be deducted from the total amount of your loan. The remaining funds are disbursed to the student’s account to cover billed charges. Any funds received in excess of the billed charges are refunded back to the parent for the Parent PLUS Direct Loan.


NOTE:  If you are denied the Parent PLUS Direct Loan, your student may qualify for additional funds in an unsubsidized Stafford loan. 

Section A: Student Information

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Section B: Parent Borrower Information
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Borrower Certification: I understand that to obtain a loan through this process I must perform the following steps. First, complete and return this form to the Office of Financial Aid & Scholarships at JMU. Second, if applicable, sign and return a Master Promissory Note to the appropriate issuing party. Therefore, by submitting this form online, I provide consent to JMU to initiate the loan process for the academic year.
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