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DIRECT PLUS (PARENT LOAN FOR UNDERGRADUATE STUDENTS)

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, 2010, Federal Direct PLUS loan interest rates are fixed at 7.9%. Repayment usually begins within 60 days after the final loan disbursement for the period of enrollment for which the funds are borrowed. Application for the PLUS loan is accessed electronically at www.studentloans.gov. Students must have completed the Free Application for Federal Student Aid (FAFSA) for eligibility to be determined.

Federal Direct PLUS Loans will be disbursed after a Master Promissory Note has been electronically signed with the Direct Loan Servicing Center. 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.

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 GC Box Office 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 parent, or check/r direct deposit made payable to student as indicated on PLUS application 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 • admissions@gcsu.edu