A Parent Loan for Undergraduate Students (PLUS) is a low-interest loan to help you, as the parent borrower, pay for your son or daughter's education beyond high school. The PLUS is available without regard to financial need. However, satisfactory academic progress as well as an adequate enrollment level is required. In addition, the lender is required to determine whether you have an adverse credit history. The parent borrower must be the natural or adoptive parent of the student. You may borrow up to the full cost of attendance, minus all other aid awarded. Additionally, as the parent borrower, you will be responsible for repaying the loan. Loan repayment begins 60 days after the loan has been fully disbursed.  Effective for PLUS loans guaranteed after July 1, 2006, the interest rate will be fixed at 8.5%.

The FIRST step in the Electronic PLUS application process is the completion of the Free Application for Federal Student Aid (FAFSA) by you and your son or daughter. You may complete the FAFSA for free over the Internet at www.fafsa.ed.gov. This will determine eligibility for any of the federal aid programs available. You are advised to wait until your son or daughter receives a financial aid award offer from ESU before continuing with the PLUS application.

The SECOND step is to complete the Parent PLUS Loan Authorization of Release of Funds form so that excess funds can be released to your son or daughter.  This form MUST be submitted before certification of your loan can take place. A printable form is available here.

The THIRD step in the Electronic PLUS process is your online application. The available lenders are:

- JP Morgan Chase Bank

- Sallie Mae Education Trust

- U.S. Bank

It is not necessary to have an account already established with the PLUS lender. Once you submit your request, you should know within five minutes whether or not you've been approved.

The FOURTH step in the Electronic PLUS process involves your signature on the PLUS Master Promissory Note (MPN). Once the credit status is approved, you will have the option to electronically sign the promissory note or one can be mailed to you from Sallie Mae. If you choose the electronic MPN signature process, it is recommended that you print a copy of the PLUS MPN and retain it for your records. Once the promissory note/application is approved, the office of student financial aid at ESU will be notified and at the appropriate time, a representative will electronically certify the PLUS application.

The FIFTH step in the PLUS process occurs when the lender forwards the PLUS proceeds by Electronic Funds Transfer (EFT) to ESU. After direct institutional costs (tuition/fees and campus room/board) have been paid, any excess funds will go directly to your son or daughter's Lyon County State Bank checking account. Should you wish to receive the excess funds (rather than have them go to your son or daughter), make your request by contacting the office of student financial aid at least two weeks prior to the disbursement of the PLUS loan funds from the lender.

- PLUS loans are subject to a 3% origination fee and a Federal default fee of up to 1%. Thus, the net loan proceeds from your lender could be 4% less than the amount certified.

- You have the right to cancel all or a portion of the PLUS loan proceeds by contacting the Office of Student Financial Aid prior to disbursement.

To begin the PLUS online application process, click HERE and follow the detailed instructions provided. You will be directed to establish a user I.D. and password as well as other demographic information before completing the actual application form.