Applications for Federal Direct PLUS and Graduate PLUS loans are
processed online through the US Department of Education student
loan website at www.StudentLoans.gov.
- The parent or graduate student borrower must sign in to the
website using his/her Federal Student Aid PIN (the same PIN that
was used to sign the student’s FAFSA) in order to apply. If
the borrower does not already have a PIN or has forgotten it, a new
one may be obtained by following the link to the PIN site
- Once signed in, the borrower must click on “Request a PLUS
Loan” to begin.
PLUS PROCESS CONSISTS OF FOUR
Step 1: Personal Information: Personal
information of the parent or graduate student borrower.
Step 2: Student & Loan Info:
- Select 2012-2013 as the Award Year.
- Parent PLUS borrowers only (not graduate
students) must enter the information of the student for whom the
loan is for.
- Select “NEW YORK” as the School State and
“SAINT JOHN’S UNIVERSITY” as the school name.
- Enter a requested loan amount.
- The borrower enters a specific amount to borrow for the school
year or may elect to borrow the maximum amount for which he/she is
eligible. The maximum amount the PLUS borrower may request is
included in the St. John’s 2012-13 Financial Aid award package.
- If the borrower later determines that he/she does not need the
entire amount applied for, he/she may cancel or reduce an
un-disbursed loan at any time. A disbursed PLUS loan
may be cancelled or reduced within thirty days of
the date of disbursement. St. John’s Loan
Change Form is available online.
- The amount the borrower chooses to apply for will not affect
the result of the application.
- When choosing an amount, the borrower should borrow only what
is really needed and remember that loans must be repaid.
Step 3: Review Application
Step 4: Credit Check & Submit: Authorize the review of
credit history and submit the application.
Additional Step for New GradPLUS Borrowers :
All new Direct Grad PLUS Loan borrowers must complete a separate
Grad PLUS Entrance Interview at www.StudentLoans.gov.
When will the borrower be notified
of the result of the application?
- The borrower will be notified immediately of
- If approved, the borrower will be directed to complete a Master
Promissory Note (MPN) if a PLUS MPN has not been completed
What are the options for the
Parent/Graduate PLUS borrower denied for a PLUS
- Parent borrowers can opt for additional unsubsidized loan
eligibility for the student.
- Parent or Graduate PLUS borrower can opt to provide
documentation of extenuating circumstances and appeal the
- Parent or Graduate PLUS loan borrower can opt to obtain an
endorser with a more favorable credit history to act as a
co-signor. The endorser must complete a process, similar to the
original application, either online or through the mail. The
online process requires that the endorser have a Federal Student
Aid PIN. The borrower who has been denied will automatically
be mailed a paper Endorser Package. Both processes require
that the endorser know the Loan Reference ID which will be provided
to the denied borrower via email or can be viewed by the denied
borrower when signed onto www.StudentLoans.gov.
How will the student receive the
- Once an application has been approved and a MPN has been
properly completed, the student will be given credit by St. John’s
for the amount approved for disbursement less all applicable
- The approved amount will automatically be split equally between
the fall and spring semesters.
- Funds will be disbursed by the federal government to the
student’s St. John’s account at the beginning of each semester
according to the disbursement schedule set by St. John’s.
What fees, if any, are associated
with these loans?
For GradPLUS/PLUS loans, an origination fee of 4.0% is assessed and
is automatically deducted by the federal government. Since the
origination fee is deducted before the federal government disburses
the loan to St. John’s, the amount credited to the student’s
account will be less than the loan amount borrowed.
Origination fees are determined by the U.S. Department of
Where can I learn about the various
federal student loan programs?
For more information please visit the following websites:
For more information on debt management please visit the