Financial Aid Office

Direct Graduate PLUS Loans

St. Catherine University now participates in the William D. Ford Federal Direct Loan Program for PLUS Loans. These are low-interest loans specifically for graduate students.

Loan authorization instructions

  1. Complete the Direct PLUS Loan Application and Master Promissory Note (MPN), which is the written contract between you; the borrower; and the lender. This can be completed online at the Direct Loan website. Sign in to the "Manage My Direct Loan" section of the site using your social security number, last name, birth date, and FAFSA PIN. Select "Request a PLUS Loan” and select “Graduate PLUS”. (Note: This process requires a credit check.) Once you have completed the application process and have been approved, and if you are a new borrower, you will be prompted to complete the Master Promissory Note.

    And, if you are a new borrower:
  2. Complete the Loan Entrance Counseling, which is also available online at the Direct Loan website. Sign in to the "Manage My Direct Loan" section of the site using your social security number, last name, birth date, and FAFSA PIN. Select "Complete Counseling" then select "Entrance Counseling."

Receiving your loan

The Direct Loan Program will send a loan disclosure statement when your loan has been processed. Save this statement to compare to your online bill later. It will show the total amount of your loan, the disbursement amounts and the estimated disbursement dates. This is an estimate for when the funds will be transferred, NOT the date the funds may be released to you.

Denial

Any PLUS Loan borrower with adverse credit may be denied the PLUS Loan. If your credit is denied, you will receive notification from the direct loan servicer. You can:
  • Seek a credit status override. Contact the Direct Loan service at 1-800-557-7394 and Equifax (their credit bureau) at 1-800-685-5000.
  • Request a review. If you have extenuating circumstances, provide documentation to the Direct Loan service.
  • Have a third party endorser co-sign the PLUS Loan application. Contact the Direct Loan service at 1-800-557-7394.
  • Choose not to pursue the denied PLUS Loan. Contact the Office of Financial Aid to discuss options.

Loan Comparisons

To compare the terms of the different loans available to you and help determine which loans would best meet your needs, use our loan comparison chart.

Tools for determining your costs and calculating your balance are available in the Cost of Attendance Webpage. By selecting your program and then completing a Cost Estimation Worksheet, you can gain a better understanding of your individuals costs, what will be covered by grants and scholarships, and how much you may need to borrow in loan funding or cover through personal resources.