Parent PLUS Loans are credit based loans; therefore, a credit check is required. In addition, parents and their dependent student must be U.S. citizens
or eligible noncitizens, must not be in default on any federal education loans or owe an overpayment on a federal education grant, and must meet
other general eligibility requirements for the Federal Student Aid programs.
To complete the application for a Federal Direct Loan the parent borrower must:
1. Complete this form and return it to the Lees-McRae College Financial Aid Office (Information provided on this form is
used to process the loan origination.) PLEASE NOTE: This form AND the Federal Direct PLUS Loan MPN MUST be completed
by the SAME PARENT and all information must match. The PLUS Loan will not process until the same parent’s data is on
both this form AND the MPN.
2. The parent borrower must go to studentaid.gov and 1) Apply for a PLUS loan and 2) Complete the Loan Agreement for
a PLUS loan (MPN). The PLUS application will force the credit check and you will know quickly if your credit is approved or
declined. Detailed instructions for this step can be found on the back of this form.
If you borrowed last year and have already completed a valid MPN, you do not need to complete a new one.
________/________/_________ __________________________________________________ _____________________
Student SSN Student Name (Last, First, MI) LMC ID#
(_______) _______________________________ ______________________________________
Telephone # LMC E-Mail
Parent (Borrower) Information
Parent SSN: __________/__________/________ Relationship to Student: ______________________________
Name: ________________________________________________________________________________________________
Last First MI
Address: _____________________________________________________________________________________________
Street City State Zip Code
Date of Birth: _____/____/____ Home Telephone: (_____) ________________ E-mail:____________________________
Citizenship Status: Citizen Eligible Non-Citizen Alien ID Number ________________________
Driver’s License: License Number __________________________ Issuing State ___________ OR None ___________
Are you in default on a Federal Education Loan or do you owe repayment on a Federal Grant? Yes No
Loan Period: Both Fall and Spring Semesters Fall Semester 2022 Spring Semester 2023
Total Federal PLUS Loan amount requested: $________________ (Disbursed amount will be reduced by 4.228% origination fee)
PLUS LOAN DISBURSEMENT:
If the disbursed PLUS Loan results in a credit balance after applying the funds to institutional charges, I authorize that the credit balance
be:
Refunded to my son/daughter or Refunded to me
Parent Borrower Signature ____________________________________ Date__________________________
Federal Direct Parent PLUS Loan Request Form
2022-2023 Academic Year (Fall 2022 and Spring 2023)
Lees-McRae DL School Code: G02939
***Please note: Parents who are interested in borrowing from the Parent PLUS Loan Program
must complete and return this form to the Office of Financial Aid. Parent PLUS Loans cannot
be accepted through the student’s Montibus account.
The current Parent PLUS loan interest rate is 6.28% fixed. (Interest rates are subject to change on July 1, 2022.)
Next Steps for First Time Parent Borrowers
In order to participate in the Federal Direct Parent PLUS Loan program, a parent borrower must complete and return the
Parent PLUS Loan Request form and complete the necessary steps below. Only biological parents, stepparents, or
adoptive parents of undergraduate students may take advantage of the loan program. Be mindful when entering your
name, social security number, and date of birth. The information entered for the Parent PLUS Loan and MPN must
match.
Complete Steps:
1. On studentaid.gov, click the “Parent: I want to help my child pay for college” tab toward the bottom of the
screen.
2. Under “POPULAR TOPICS,” choose the first option “Apply for a Parent PLUS Loan.”
3. Under “I am a Parent of an Undergraduate Student,” click the blue “Log In To Start” button.
4. Log in using your PARENT FSA Username and Password.
5. Complete the requested information for the Award Year 2022/2023, then submit your application. You will be
notified immediately on the last screen whether your application has been accepted or declined.
* The loan amount requested is the amount that you would like to request and should match the amount
you have written on the Parent PLUS Loan Request Form. If you are unsure, we suggest that you choose
the “I want to borrow the maximum Direct PLUS Loan amount for which I am eligible, as determined by
the school.” Lees-McRae College will originate the loan using the amount you have written on the
Parent PLUS Loan Form.
* The loan period is August 2022 to May 2023.
6. Once your application has been approved, return to the “Parent: I want to help my child pay for college” tab on
studentaid.gov.
7. Under “POPULAR TOPICS,” choose the second option “Complete a Master Promissory Note (MPN) for a Parent
PLUS Loan.
8. Complete the Master Promissory Note (“PLUS MPN for Parents”) using the same parent who was approved on
the Parent PLUS Application.
Completed paperwork may be returned by:
• faxing to 828-898-8746
• mailing to LMC Office of Financial Aid, PO Box 128, Banner Elk, NC 28604
• scanning and securely uploading to the following web-link: https://securefile.lmc.edu/filedrop/[email protected]du
Lees-McRae Financial Aid
P.O. Box 128 | Banner Elk, NC 28604 | Ph: 828.898.8793 | [email protected]
