- What if I need additional money beyond tuition and fees?
- What is a Parent PLUS Loan?
- How do my parents apply for a PLUS loan?
- What if my parents are denied a Parent PLUS loan?
- What is a Grad PLUS loan?
- How do I apply for the Grad PLUS loan?
- What if I am denied a Grad PLUS loan?
- When is the last day that I can submit my loan acceptance documents to NLU?
- What happens if I did not submit my documents on time?
You should contact Financial Aid to discuss your needs. Parent PLUS and Grad PLUS loans may be the solution.
The Federal Direct PLUS (Parent Loan for Undergraduate Students) is a loan for the parents of dependent undergraduate students. The loan is not based on financial need and can be awarded up to the cost of attendance minus other aid the student is receiving. Parents determine the amount they wish to borrow. This loan is subject to credit approval policies set by the Department of Education as the lender.
Your parent needs to complete the PLUS Loan Acceptance Form that was included with your Award Notification Letter. Your parent also needs to apply through the Department of Education: https://studentloans.gov.
If your parents are denied a Parent PLUS loan and you have a credit worthy endorser, your endorser can apply.
Graduate and professional students can apply for a Federal Direct Graduate PLUS Loan. Students who have exhausted their Federal Stafford Loans or who seek additional funding may apply for this loan. This loan may be better than alternative/private loans which have variable interest rates. Eligible credit-worthy students can borrow up to the full cost of attendance, minus any other financial aid they are receiving.
You have to apply through the Department of Education website: https://studentloans.gov.
If you are denied a Grad PLUS loan and you have a credit worthy endorser, your endorser can apply.
The loan MUST be originated by the school before your last day of class for the term. Loans cannot be originated after the last day of the term due to federal regulations. You should submit the Loan Acceptance Form to our office at least a week before your term ends to ensure that it will be processed in time.
If you are not able to obtain a private loan for past due balances, you must work out a payment arrangement with the Student Finance Office. You will not be permitted to register with a past-due balance.