Financial Aid Office

Direct Parent 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 parents to help pay for the cost of a child's education after high school.

Loan authorization instructions

  1. Complete a Federal Parent PLUS Loan Request and Credit Authorization for the appropriate aid year. Click on the link below to print the form, then mail or fax the completed form to our office.
    Summer 2012 Federal Parent PLUS Loan Request and Credit Authorization »
    2011-12 Federal Parent PLUS Loan Request and Credit Authorization »
  2. Complete the Direct PLUS Loan 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 "Complete Master Promissory Note," then "Parent PLUS."

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 servicer.
  • 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 Financial Aid Office to discuss alternative 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.