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PLUS Loans

The Federal PLUS Program makes loans available to parents of dependent students. All borrowers must use the loan funds received solely to pay educational costs.
Find out more about PLUS Loans

Determine if the Federal PLUS loan is for you
Federal PLUS loans are low interest loans to parents of dependent, undergraduate students to help pay the cost of attending MSOE.They are available to parents who have been approved after a credit check is preformed regardless of income or assets. The interest rate is fixed at 8.5%. Parents may borrow up to the cost of education minus any other financial aid the student has already received. PLUS Loans scheduled to disburse after 7/1/2008 will go into repayment 60 days after the loan's final disbursement but the parent borrower can contact the loan servicer to request deferment of payments until six months after the student ceases at least half-time enrollment. Interest will accrue during the time the student is in school but interest can be paid during that time without penalty. This loan is in the parent's name and can never be transferred to the student's name.

Complete the FAFSA
To receive the Federal PLUS loan MSOE requires students to complete the Free Application for Federal Student Aid (FAFSA).  The FAFSA application can be completed online at www.fafsa.ed.gov.


PLUS Loan Application Process for First-time PLUS Borrowers

Note: In order to sign the Master Promissory Note for the Federal PLUS Loan online, you must have received a pin number from the U.S. Department of Education.

  • Complete your PLUS Loan Master Promissory Note via Paper
    To receive a paper PLUS loan application without completing the PLUS loan promissory note online, please fill out the online PLUS Loan Request Form.

PLUS Loan Application Process for Previous PLUS Loan Borrowers


Students: To Receive Additional Stafford Loan from PLUS Loan Denial
Each school year, parents with poor credit may use the FASTPLUS site for pre-approval. If denied, students will receive an additional Unsubsidized Federal Stafford Loan ($4000 for freshmen and sophomores and $5,000 for juniors and seniors). MSOE will be notified of your denial and will apply the additional Unsubsidized Stafford loan automatically to the student's account. If the student does not want the additional amount, the student can contact our office via e-mail at finaid@msoe.edu to decline the loan.


MSOE's Lender Selection Policy Disclosure
The lenders selected above were rated on various aspects of their Stafford, Parent PLUS, and alternative loan products.  Each lender that submitted information to MSOE went through detailed scoring of each loan product including but not limited to benefits offered, approval rates, loan servicing, and other services offered to MSOE students. Lender selection will be reviewed annually to ensure that the benefits that lenders offer continue to adhere to our student's needs. Any lender that no longer adheres to our needs will be removed, and new lenders that meet our criteria are added. At least three lenders will be presented to you at all times.  You are free to select any lender, including those not presented. Application processing will not be delayed if you choose a lender not presented.  MSOE maintains a professional relationship with all lenders. Our officials are prohibited from accepting financial or other benefits in exchange for displaying lenders. These include: receiving compensation to serve on any lender's board of directors or advisory boards; accepting gifts including trips and entertainment; allowing lenders to staff our institution's financial aid office; allowing lenders to place our institution's logo on any of their products; and owning lenders' stock (only pertaining to those college officials who make loan decisions for our institution).



MSOE Financial Aid Office
OE Number 003868