James Madison University

Grad PLUS Direct Loan Application

Steps to applying:

Step 1: You should have completed the Federal Application for Federal Student Aid (FAFSA).

Step 2: If you wish to apply for a Grad 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 Cost of Attendance (COA) less estimated financial aid. 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 Federal Graduate Plus 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 Grad PLUS Direct Loan borrowers will need to complete a Direct Loan Master Promissory Note (MPN) with the Department of Education to obtain a Grad 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.  The Grad PLUS Direct loan has a 4.204% origination fee.These funds 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 charge are refunded.

 

 

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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 agree to these terms and provide consent to JMU to initiate the loan process for the academic year.
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