How do I accept my Federal Direct Grad PLUS Loan?

A dependent student whose parent has been denied a PLUS loan during the current aid year may be eligible to receive Federal Direct Unsubsidized Stafford loans at the independent level with proof of PLUS loan denial from the lender.

If your credit has been denied for the Parent PLUS Loan, you will be given four options on the www.StudentLoans.gov application to choose from:

  • I do not wish to pursue a PLUS loan at this time.

The additional Federal Direct Unsubsidized Stafford loan will automatically be offered to the student, in which the student may choose to accept, reduce, or decline the loan through the myUCF View Financial Aid “Accept/Decline Awards.” Please allow at least two weeks for processing the additional offered loan upon receipt of a PLUS denial.

Undecided.

The additional Federal Direct Unsubsidized Stafford loan will automatically be offered to the student, in which the student may choose to accept, reduce, or decline the loan through the myUCF View Financial Aid “Accept/Decline Awards.” Please allow at least two weeks for processing the additional offered loan upon receipt of a PLUS denial.

I will obtain an endorser*

  • Choose this option if you would like to add a co-signer.
  • Parents should notify the SFA Loan Department in order for the PLUS loan to be awarded if your credit is approved with an endorser.
  • Borrowers who required an endorser for approval of the PLUS loan must sign a new MPN for any supplemental or future PLUS loan.
  • Borrowers whose Direct PLUS Loan credit checks are denied on or after March 29th, 2015 and then approved with an endorser, must complete a PLUS Counseling before the Direct PLUS Loan can be disbursed. The U.S. Department of Education will notify the borrower about the PLUS Counseling instructions.
  • If we do not receive an update for a credit approval within 3- 4 weeks, the additional Federal Direct Unsubsidized Stafford loan will automatically be offered to the student, in which the student may choose to accept, reduce, or decline the loan through the myUCF View Financial Aid “Accept/Decline Awards.”
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I want to appeal the credit decision*

  • Choose this option if you believe the credit check is inaccurate or you can provide updated information about extenuating circumstances.
  • Parents should notify the SFA Loan Department in order for the PLUS loan to be awarded if your appeal has been approved.
  • Borrowers whose Direct PLUS Loan credit checks are denied on or after March 29th, 2015 and then approved through a credit appeal, must complete a PLUS Counseling before the Direct PLUS Loan can be disbursed. The U.S. Department of Education will notify the borrower about the PLUS Counseling instructions.
  • If we do not receive an update for a credit approval within 3- 4 weeks, the additional Federal Direct Unsubsidized Stafford loan will automatically be offered to the student, in which the student may choose to accept, reduce, or decline the loan through the myUCF View Financial Aid “Accept/Decline Awards.”

*For instructions on how to appeal or how to reapply using an endorser, please contact the Department of Education’s Applicant Services at 1-800-557-7394. If the PLUS credit decision is approved after the parent appeals or reapplies with an endorser, the student is no longer eligible to receive the additional Unsubsidized Stafford loan.