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PLUS Loans enable parents with good credit histories to borrow monies. These funds are designated to help pay the educational expenses of each child who is a dependent undergraduate student enrolled at least half-time (6 semester hours). The yearly limit on a PLUS loan is equal to the student's Cost of Attendance (COA) minus any other financial aid the student is receiving.

Effective July 1, 2006, Federal PLUS loan interest rates are fixed at 8.5%. Repayment usually begins within 60 days after the final loan disbursement for the period of enrollment for which the funds are borrowed. Applications for the PLUS loan may be obtained from the GCSU Financial Aid Office or students may download the application from /financialaid and fax or mail it to the GCSU Financial Aid Office. Students must have completed the Free Application for Federal Student Aid (FAFSA) for eligibility to be determined.

Parent borrowers will need to select a lender for their loan. Suggested lenders are provided on our Web site based on borrower benefits and customer service. Neither Georgia College & State University nor the GCSU Financial Aid Office benefits in any way from the borrower's lender selection. While we have provided lender suggestions on our Web site, parent borrowers have the right to select any lender that participates in the Federal Family Education Loan Program. If parents have borrowed under the Federal PLUS program previously, and are satisfied with the lender's service, then we encourage borrowers to select the same lender each year. Multiple loans from multiple lenders could require you to make multiple payments at the same time.

The lender is the institution from which the money is actually borrowed, but the interest rates and terms of the loan are set by the U.S. Department of Education. Some lenders offer special incentives that reduce the borrower's loan fees, interest rates and/or loan balance.

Federal PLUS Loans will be disbursed after a Master Promissory Note has been electronically signed. The PLUS MPN has a multi-year feature. This multi-year feature allows a parent of a dependent student to only have to sign one promissory note that can be used for up to 10 years.

A parent will need to complete an application form each year in order for this loan to be awarded to the student. Passive confirmation will be used after the request for a PLUS Loan has been completed. The borrower must take action only if he or she does not want the loan, or wants to change the loan amount. With passive confirmation, loan funds will be disbursed after the borrower has been notified of the new loans.

Funds will first be used toward the student's bill at the Business Office. Any funds remaining can be used to purchase books at the GCSU PawPrints Bookstore approximately three days prior to the first day of classes through the end of the drop/add period. Any remaining funds will be disbursed in a check payable to the student or direct deposit if selected approximately seven days after the end of the drop/add period each semester.

Georgia College & State University • 231 W. Hancock St. • Milledgeville, GA 31061 • 1-800-342-0471 ; (478)445-5004 •