PLUS MPN Completion by Graduate/Professional Students
The Higher Education Reconciliation Act of 2005 (the HERA), Pub. L. 109-171, provides for eligible graduate and professional students to receive Federal Direct PLUS Loans (Direct PLUS Loans) on or after July 1, 2006. Direct PLUS Loans are loans made to eligible borrowers for up to the cost of attendance minus other estimated financial assistance each academic year. The HERA also made other changes to the terms and conditions of Direct PLUS Loans.
To ensure that eligible graduate and professional students can complete the Federal Direct PLUS Loan Application and Master Promissory Note (PLUS MPN) at the earliest point possible, the U.S. Department of Education has developed an addendum to the existing PLUS MPN. The addendum is a legal document that makes the existing PLUS MPN (previously completed only by parent PLUS borrowers) applicable to graduate and professional student PLUS borrowers (Grad PLUS borrowers). In addition, the addendum explains the other changes to the terms and conditions of Direct PLUS Loans that were made by the HERA.
Item 1 in the addendum addresses the specific changes that apply to Grad PLUS borrowers. Included in this explanation are changes to the instructions for completing the PLUS MPN.
As a Grad PLUS borrower, you will do the following when completing the PLUS MPN:
• Enter information about yourself in all items in Section A except for Item 7 (U.S. Citizenship Status). You do not need to complete Item 7. This question was answered when you completed the Free Application for Federal Student Aid (FAFSA).
• Enter information about yourself in all items in Section C.
• Ensure that your Name, SSN, and Date of Birth in Section A and Section C match exactly.
• Sign and date the PLUS MPN in Section E.
The illustration below shows you how to complete Section A and Section C of the PLUS MPN.
| |Application and Master Promissory Note: Federal Direct PLUS Loan | |
| |William D. Ford Federal Direct Loan Program | |
| |Warning: Any person who knowingly makes a false statement or misrepresentation on this form will be subject | |
| |to penalties which may include fines, imprisonment, or both, under the U.S. Criminal Code and 20 U.S.C. | |
| |1097. | |
| SECTION A: PARENT INFORMATION |READ THE INSTRUCTIONS IN SECTION G BEFORE COMPLETING THIS SECTION |
| 1. Driver’s License State and No. |2. Social Security No. |3. Date of Birth |
| | | |
| 4. E-mail Address (optional) | | |
| | | |
| 5. Name and Address |6. Home Area Code/Telephone No. | |
| | | |
| |7. U.S. Citizenship Status (check one) |
| |(1) ( U.S. Citizen or National |
| |(2) ( Permanent Resident/Other Eligible Non-Citizen |
| |If (2), Alien Registration No. |
| | |
| 8. Employer’s Name and Address |9. Employer’s Area Code/Telephone No. |
| |( ) |
| 10. If it is determined that you have an adverse credit history, will you try to obtain an endorser? ( Yes ( No |
| |
| 11. References: You must list two persons with different U.S. addresses who have known you for at least three years. Do not list the student as a reference. |
| | | | | |
| Name |1. | |2. | | |
| | | | | | |
| Permanent Street Address | | | | | |
| | | | | | |
| City, State, Zip Code | | | | | |
| | | | | | |
| Area Code/Telephone No. |( | |( | | |
| |) | |) | | |
| | | |
| SECTION B: SCHOOL INFORMATION |
| 12. School Name and Address | |13. School Code/Branch | 14. Identification No. |
| SECTION C: STUDENT INFORMATION |
| 15. Student’s Name (last, first, middle initial) |16. Social Security No. |17. Date of Birth |
| | | |
| | | |
-----------------------
OMB No. 1845-0068
Form Approved
Exp. Date 01/31/2006
[pic]
Graduate/Professional Student: Enter information about yourself in Section A.
Graduate/Professional Student: Do not complete #7.
Graduate/Professional Student: Enter information about yourself in Section C.
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Direct PLUS Loan MPN Completion
by Graduate and Professional Students
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