PLUS LOAN AUTHORIZATION FORM
This form is intended to be completed after a FAFSA has been submitted for the student and you (the parent) have completed steps 1 and 2 listed at our PLUS Loan website. If you have not yet completed a FAFSA for the student, please do so as soon as possible. If you have not completed steps 1 and 2, please be sure to do so once you have completed this form.
STUDENT INFORMATION
Student Name: ,
Student ID #: Student Email Address:
PARENT INFORMATION
Please only include information for the parent listed on the PLUS Application.
Parent Name: ,
Address: Phone #:
,
Email: Last 4 Digits of SSN:
LOAN PERIOD
I request that Gordon College process a Federal Direct PLUS Loan for the 2023-2024 academic year. Please note that students must be enrolled at least half-time. This loan is intended to cover the following period:.
REQUESTED LOAN AMOUNT
Please note that a 4.228% Origination Fee is deducted from your requested loan amount by the government at the time of disbursement. For example, if you need $10,000 disbursed to the school, you would need to request $10,442 in order to cover the fee.
To calculate the Gross amount inclusive of the 4.228% fee, use this formula: NET amount divided by 0.95772
NET Disbursement to School: this is the amount you want the school to receive
GROSS Loan amount to request: this is the amount you want the school to receive, PLUS the fee
I understand that repayment on this loan will begin 60 days after the last disbursement UNLESS I request a deferment from the Department of Education. A deferment can be requested on the Federal Student Loans website. Borrowers who wish to increase the requested loan amount must notify the Student Financial Services Office.
PARENT SIGNATURE:
