Wheaton College Norton, Massachusetts
Wheaton College
Student Financial Services

Federal Direct PLUS Loan Borrower Instructions

Federal Direct PLUS Loan Application Process

All families must complete a Free Application for Federal Student Aid (FAFSA) in order to borrow a Federal Direct PLUS loan. If you have not completed a FAFSA for your student and you wish to borrow a Federal PLUS loan, you can complete the FAFSA herePlease note: If you have more than one student in college, you will need to file an individual  FAFSA for each student for which you will borrow a PLUS loan.

For information regarding the terms and conditions of the Federal Direct PLUS loan please visit the Department of Education's Federal PLUS Loan information page. The Federal PLUS Loan interest rate is 6.41%.  Federal PLUS loan fees of 4.204% are subtracted from the loan before disbursement.  NOTE: Families who are applying for financial aid and have yet to receive their financial aid notification are encouraged to complete the PLUS loan process after the financial aid notification is received.

Before the Direct PLUS loan proceeds can disburse to a student's account, the Office of Student Financial Services must receive both a completed Federal Direct PLUS Loan Pre-Application, and confirmation from the Department of Education that the applicant has successfully completed a loan promissory note and passed a credit check.

Federal Direct PLUS Loan Application Process

1. Complete the Federal Direct PLUS Loan Pre-Application.  The Federal Direct PLUS Loan Pre-Application is a two page document that provides us with necessary information with which to process your loan. A PLUS Loan Master Promissory Note received without a Pre-Application will result in a delay in processing. Please remember to remit the Pre-Application (prior to completing the master promissory note) to the Office of Student Financial Services at 26 East Main Street, Norton, MA 02766 or fax to (508) 286-3787.

2. Complete the Federal Direct PLUS Loan Promissory Note. A legally binding agreement to repay a parent loan, the agreement is between the parent (not the student) and the Department of Education. A student cannot complete the Direct Parent PLUS Loan promissory note on the parent's behalf.

In the Case of a PLUS Loan Denial: Parents who are denied a PLUS loan based on credit have two options available to them. The first option is to appeal the denial decision with Direct Loan Borrower Services (1-800-848-0979) and/or borrow the loan with a co-signer called the endorser. The second option allows the student to borrow additional Unsubsidized Federal Direct Stafford loan funds. Parents who wish to have the student borrow additional Stafford loan proceeds should complete the appropriate section on the Pre-Application to avoid processing delays with the Unsubsidized Stafford Loan.

If you have any questions regarding the Direct Loan programs at Wheaton College or the completion of your Direct PLUS Loan application, contact the Office of Student Financial Services at (508) 286-8232 or e-mail us at sfs@wheatoncollege.edu.

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