Parent Plus Loan Application Form 3

FEDERAL FORD DIRECT PARENT PLUS LOAN REQUEST FORM
STUDENT INFORMATION
Student Name: ___________________________________________________
Social Security Number: _________________________________________
Address: _____________________________________________________
If you, the Student, are NOT a U.S. Citizen, but are a Permanent Resident (or other
eligible alien), please check below and indicate Alien Registration Number.
_____
_______________________________________
►►►►►►►►►►►►►►►►►►►►►►►►►►►►►►►►►►►►►►►►►
LOAN AMOUNT REQUESTED:
$________
FALL
$________
SPRING
$________
TOTAL
Please note: In most instances, if the student will be enrolled for both the fall and spring semesters, the
loan will be processed for the entire year with half disbursed in the fall and the other half disbursed in the
spring. If the parent would like to have the PLUS Loan for only one semester even though the student will
be enrolled for both semesters, please indicate the amount requested and we will determine whether we
can certify the requested amount. If the student is attending for only one semester, there will be one
disbursement during that semester.
PARENT INFORMATION
Parent Name: ____________________________________________________
Social Security Number: __________________________________________
Address: _____________________________________________________
Telephone Number: (h) ____________________ (w) ___________________
Date of Birth: ____________________________
If you, the Parent, are NOT a U.S. Citizen, but are a Permanent Resident (or other
eligible alien), please check below and indicate Alien Registration Number.
_____
_______________________________________
_____
Check here if you, the parent, are currently in DEFAULT on a
federal education loan, or owe a refund on a federal student
grant.
_______________________________
PARENT BORROWER SIGNATURE
Send completed form to:
COMPLETE REVERSE SIDE
__________________
DATE
Financial Aid Office, Bridgewater State College,
Bridgewater, MA 02325
fax: (508) 531-1728
COMPLETE REVERSE SIDE
PARENT CHOICE UPON DENIAL OF PLUS LOAN
Your eligibility for a Federal Ford Direct PLUS Loan is based on your student’s cost of
attendance at Bridgewater State College, less any other aid received. The final approval is
based on a credit-check process. In the event that the PLUS loan application is denied on the
basis of the credit check, please choose one of the following options available to you (failure to
do so will default to Option 2):
____ Option 1. I will appeal the credit decision or I will obtain a credit eligible endorser
on my Federal Direct PLUS Loan. Please do not cancel my Federal Direct PLUS
Loan until I notify you of the decision of the appeal.
____ Option 2. I am unable/not willing to obtain a credit eligible endorser. Please cancel
the Federal Direct PLUS Loan and offer my son/daughter a Federal Direct
Unsubsidized Loan for the following amount: $________________. (Note: In addition to
the eligibility calculation described above, additional Unsubsidized Direct Loan eligibility is limited to
$4,000 for freshmen and sophomores and is limited to $5,000 for juniors and seniors. For further
information or assistance in determining loan amount eligibility please contact the Financial Aid
Office at: (508) 531-1341.)
____ Option 3. Please cancel my Federal Direct PLUS Loan. No further action is required.
AUTHORIZATION OF RELEASE OF EXCESS FUNDS TO STUDENT’S COLLEGE ACCOUNT
The Federal Ford Direct PLUS Loan proceeds, like all other types of financial aid, can only be
used for expenses directly related to your student’s education at Bridgewater State College.
The U.S. Department of Education has determined that the proceeds from your Federal Ford
Direct PLUS Loan must be applied directly to your student’s college bill in order to help meet
educational expenses. If the amount of the loan exceeds your student’s bill, you or the student
will receive the excess in the form of a refund check. If the amount of the loan does not exceed
the bill, there will be no refund. We recommend that you authorize the release of funds to the
student in order to avoid delays in refunding the amount of the loan. If the refund will be made
to the student, we urge you and your student to discuss the proper disposition of the funds. For
example, should the student deposit the refund check into his/her own account, or sign the
check over to you to manage?
I understand that Bridgewater State College will disburse and apply Federal Ford Direct
PLUS Loan funds to my student’s college bill. I also understand that by signing below I
am authorizing the release of excess Federal Ford Direct PLUS Loan funds, if any, to the
student.
_____________________________________
PARENT BORROWER SIGNATURE
_________________________
DATE
_____________________________________
STUDENT’S SIGNATURE
_________________________
STUDENT SS NUMBER