Direct Plus Loans

New! All Federal Direct PLUS Loans first disbursed on or after March 1, 2013, have an increased Origination Fee of 4.204%.

Federal Direct PLUS Loan for Parents
 

The Federal Direct PLUS Loan 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. Your parents determine the amount they wish to borrow. This loan is subject to credit approval policies set by the Federal Government/Department of Education. The interest rate on the loan is fixed at 6.41%. Interest begins to accrue from the date of the loan disbursement. The repayment period begins 60 days after the last disbursement of the loan.

For Direct PLUS Loans first disbursed after March 1, 2013, there is a 4.204% origination fee. Your parent may want to factor in an allowance for this fee when determining the amount to request.

To receive this loan, your parent must complete the PLUS Loan Acceptance Form (included with the Award Notification Letter that is emailed to the student) and return it to the Student Finance Office. A PLUS Master Promissory Note (MPN) is also required. The parent applying for the loan must complete a Direct PLUS Master Promissory Note (MPN). You can complete the Direct PLUS Master Promissory Note (MPN) at complete the MPN online here.

Federal Direct PLUS Loan for Graduate Students (Grad PLUS)
 

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. If you are denied based on adverse credit, you may obtain a credit-worthy endorser who is secondarily responsible for the loan. For a Grad PLUS Loan, the student is the borrower, as opposed to the undergraduate PLUS Loan where the borrower is the parent of the student. The interest rate on the loan is fixed at 6.41%. Interest begins to accrue from the date of the loan disbursement. Repayment begins 60 days after you cease to be enrolled at least half-time.

For Direct PLUS Loans first disbursed after March 1, 2013, there is a 4.204% origination fee. You may want to factor in an allowance for this fee when determining the amount to request.

If you are interested in applying for a Grad PLUS Loan, you must first contact the Student Finance Office to determine if you are eligible. If you are determined to be eligible, you will be offered a Grad PLUS Loan and emailed a revised Award Notification Letter. You must complete the Grad PLUS Loan Acceptance Form (included with the Award Notification Letter) and return it to the Student Finance Office. You also must complete the Direct Grad PLUS Master Promissory Note (MPN). You can complete the Direct Grad PLUS MPN at complete the MPN online here.

Locations
  • CHICAGO DOWNTOWN CAMPUS

    NLU’s Chicago campus on South Michigan Avenue occupies five floors of the historic Peoples Gas Building. This landmark building, across the street from the Art Institute of Chicago and Grant Park, is easily accessible by train, bus and car and is surrounded by restaurants, parking lots/garages and shops.

    122 S. Michigan Avenue
    Chicago, IL 60603
    (888) 658.8632

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    Campus Location
  • ELGIN

    Conveniently located in a fast-growing business district off I-90 and Route 31, NLU Elgin features 10 classrooms with high-tech media equipment; a computer lab with high-speed Internet access; two conference rooms; and comfortable student lounges. Parking is free at this recently remodeled and upgraded teaching site, which now includes wireless Internet access.

    620 Tollgate Road
    Elgin, IL 60123
    (888) 658.8632

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    Campus Location
  • NORTH SHORE

    Opened in the summer of 2006, NLU North Shore at Skokie is a state-of-the-art modern campus located just off the Edens Expressway near the Old Orchard Shopping Center. The campus includes 44 wireless classrooms equipped with high-tech media equipment; four computer labs with high-speed Internet access, including a walk-in lab in the library; six conference rooms; a public café for beverages and snacks; a student welcome center; a library for research and study; and multiple, comfortable student lounge areas.

    5202 Old Orchard Road
    Skokie, IL 60077
    (888) 658.8632

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  • LISLE

    Located just minutes from the East-West Tollway (I-88), NLU Lisle features 42 wireless classrooms equipped with high-tech media equipment; four computer labs with high-speed Internet access, including a separate walk-in lab in the library; a café for beverages and snacks; a student welcome center; a library for research and study; conference rooms; and six comfortable student lounge areas with wireless access.

    850 Warrenville Road
    Lisle, IL 60532
    (888) 658.8632

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    Campus Location
  • WHEELING

    Located in one of Chicago's major northwest suburbs, the newly renovated NLU Wheeling includes 20 classrooms with high-tech media equipment, four conference rooms, four computer labs with high-speed Internet access, large student lounge areas with wireless capabilities and interactive video capabilities, and an extensive research library. The site also houses the university library research collection.

    1000 Capitol Drive
    Wheeling, IL 60090
    (888) 658.8632

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  • FLORIDA (TAMPA)

    Established in 1988 and located in one of the city's major business districts, NLU's Florida Regional Center serves students in 13 counties in central Florida. In addition to six classrooms, this location features a conference room, a computer lab with high-speed Internet access, an extensive research library and comfortable student lounges.

     

     

    5110 Eisenhower Boulevard
    Suite 102
    Tampa, Florida 33634
    800.366.6581 | www.nl.edu/florida

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  • WISCONSIN

    NLU's Milwaukee campus has a proud history of serving graduate students in education in southeastern Wisconsin. Nearly one in five certified Wisconsin teachers looks to NLU for graduate education programs – more than any other university in the state. In addition to classrooms with high-tech media equipment, the campus offers a state-of-the-art computer lab with wireless Internet access and an extensive IDS research library.

    12000 West Park Place, Suite 100
    Milwaukee, WI 53224-3007
    414.577.2658

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