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Have you completed the FAFSA?
Your
FAFSA must be completed
prior to requesting a Parent PLUS loan.
Forms Databank
Master Promissory Note
Credit Report Consent
Steps to Apply:
Sign-in and complete the
Entrance Counseling
Submit your
Parent PLUS Loan Application
at least 30 days before payment is due.
Use your student's FSA ID to complete the
Master Promissory Note (MPN)
.
Complete the
Consent to Obtain Credit Report
form.
Important Notes
You do
not
need to
select a lender
. We are a Direct Lending school and your loan will be set up through the U.S. Department of Education.
These loans
accrue interest once disbursed
and the repayment begins approximately two months after the full loan disburses (earlier in some cases). Borrowers have the option of deferring repayment for up to a 6-month period after you cease to be enrolled half-time (6 credit hours). Parent borrowers must contact the Direct Loan Serving Center (DLSC) at
800-848-0979
to request a deferment.
If the parent borrower changes, the new borrower must complete a Master Promissory Note (MPN) using the appropriate FSA ID.
The FAFSA and Parent PLUS Loan Application must be
completed each year
and the application is
subject to a credit check
.
Direct Loans approves/denies
the Parent PLUS Loan application,
not CVCC
. Consideration is dependent upon
Satisfactory Academic Progress
.
If the loan is denied, you
may request an additional unsubsidized
Direct Student Loan
.
Failure to complete
all requirements
will result in a delay in loan disbursements and possible cancellation of the loan (requirements can be found through myCVCC).
Parents have the right to
cancel all or part of the loan prior to the first day of the semester, or within 14 days of notification
of the loan. Parents may also reduce the amount of the loan, or cancel a future disbursement by
submitting a written statement
to the Financial Aid Office before disbursement.
For more details visit the
Federal Student Aid website
.