Financial Aid ∙ 210 Bowman Hall ∙ 802 S Broadway St ∙ Menomonie WI 54751‐0790
UNIVERSITY OF WISCONSIN – STOUT
2015-16 Federal Parent PLUS Loan Application
The Federal Parent PLUS Loan is available to the creditworthy parent of dependent students. The interest rate
on the Federal Parent PLUS Loans is fixed at 6.84%. There is an origination fee of 4.292% (origination fee will
decrease to 4.272% for loans disbursed after October 1, 2015).
Repayment begins 60 days after the final loan disbursement. You may request an in-school deferment from
your loan servicer as long as the student is enrolled at least half-time.
To apply for a Federal Parent PLUS Loan you (the parent), and the student on whose behalf you are borrowing,
will need to complete this form and return it to:
UW-Stout Financial Aid Office
210 Bowman Hall
802 S Broadway St
Menomonie WI 54751
Fax: 715-232-5246
Average processing time for the Parent PLUS Loan application is 2 to 3 weeks. You (the parent) will also need
to have an active Parent PLUS Master Promissory Note (MPN) on file with the Federal Direct Loan Program at
www.studentloans.gov (be sure to complete the PARENT PLUS MPN, not the Graduate PLUS MPN).
SECTION 1
STUDENT COMPLETE THIS SECTION (Please Type or Print)
1.
Student Name: ________________________________________________________________
2.
Student ID #: __________________________________________________________________
SECTION 2
STUDENT COMPLETE THIS SECTION
Student Certification: If my parent is denied a Federal Parent PLUS Loan, I authorize the Financial Aid Office at UW-Stout
to process a Federal Unsubsidized Stafford Loan for the semesters selected on page 2.
An Unsubsidized Stafford Loan will be processed at your maximum eligibility unless you specify a dollar amount.
Sign only if you agree to the above statement.
Student Signature: ______________________________________________ Date:________________________
Page 1
SECTION 3
PARENT* COMPLETE THIS SECTION (Please Type or Print)
*The definition of parent includes the biological parent, adoptive parent, or in certain circumstances, the stepparent of the student.
The Parent PLUS Loan can only be processed in one parent’s name.
1.
Parent Name: __________________________________________________________________________________
2.
Social Security #:_____________________________________
3.
Parent email address: _________________________________ Student’s Name:____________________________
4.
Street Address:_________________________________________________________________________________
Date of Birth:______________________________
City:_____________________________________ State: ________________
Zip:_________________________
5.
Home Phone #:__________________________________ Work Phone #:__________________________________
6.
U.S. Citizen:
Yes
If No, provide alien registration #:________________________________________
NONCITIZEN PERMANENT RESIDENTS OR ELIGIBLE NONCITIZENS ONLY: Enclose a copy of DOCUMENTATION OF YOUR
STATUS along with this Parent PLUS Loan Request Form. Documentation may include, but is not limited to, a copy of one of the
following: Alien Registration Card (Form I-151 or Form I-551), Certificate of Naturalization, Certificate of Citizenship, or U.S. Passport.
7.
Are you currently in default on a federal education loan, or owe a refund on a federal student grant?
8.
Relationship to Student:
Stepmother
Mother
Stepfather
Yes
No
Father
LOAN INFORMATION
Loan Amount Requested
$______________________ (do not leave amount blank)
Remember: 4.292% of the amount you request will be taken out for an origination fee (4.272% after Oct 1, 2015)
Period for which Loan is Requested (select one)
2015-16 Academic Year* (Fall & Spring)
2015 Fall Semester Only**
2016 Spring Semester Only**
2016 Summer Session Only**
* The amount of your Federal Parent PLUS Loan will disburse equally between the fall and spring semesters.
**A loan for one semester will disburse at the beginning of that semester.
The Federal Parent PLUS Loan is a creditworthy loan and a credit check will be done to assist in determining eligibility. If you are denied based
on the credit check, you may appeal the decision with the US Department of Education or obtain a creditworthy co-signer. Or, if preferred, the
student may request an additional Federal Unsubsidized Stafford Loan by completing Section 2 of this form.
If my Federal Parent PLUS Loan is denied due to credit reasons, I select the following option:
You must select one option below even if you know your loan will be approved.
_____UW-Stout will cancel my Parent Plus Loan and allow my student to borrow Unsubsidized Stafford Loan funds if it has
been authorized in Section 2 (up to $4000 is offered to freshmen and sophomores; up to $5000 for juniors and seniors).
_____I will complete the required documents that the US Department of Education will send me to obtain a co-signer or to
appeal the denial.
Parent Certification: My signature affirms the above information is true and correct. I consent to the US Department of Education and its
agents obtaining a report of my credit record and using the information from that report in determining whether to make a Parent PLUS Loan to
me. I understand that I will be notified in writing of the results of the credit check with respect to my loan application. I understand that the
PLUS Loan proceeds will be credited to my student’s account at UW-Stout, and the credit balance will be refunded to the student.
Parent Signature: ____________________________________________ Date: _______________________________