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Emory College: PLUS Loan Procedures & Lender Selection

Parent Loans for Undergraduate Students (PLUS) are loans made to creditworthy natural or adoptive parents of eligible dependent, undergraduate students who are enrolled at least half-time. Although you must file a FAFSA, PLUS loans are not based on need.

Applying for a PLUS Loan:

Emory will begin transmitting PLUS loan information to lenders in late spring. Parents may apply for a PLUS loan following the steps outlined below:

  1. Have the eligible student complete the FAFSA online using FAFSA On The Web - Emory cannot process the PLUS loan application without a completed FAFSA.
  2. Once the aid application is completed, Emory will send an award notification email to the student. The parent does not need to wait for this award notification in order to begin the PLUS loan application process. At a minimum, however, the student must have completed the FAFSA before the parent can begin the PLUS loan process.
  3. The parent may initiate the PLUS application by:

    Contacting a PLUS lender directly for credit approval. You may choose to use one of Emory's PLUS lenders listed below. Keep in mind that credit pre-approvals are only good for 90 to 150 days; do not apply earlier than May for the upcoming academic year.

  4. Sign a Master Promissory Note (MPN) - Emory University will electronically transmit your PLUS loan application to your lender/guarantor. After this transmission, a Master Promissory Note (MPN) will be produced. There are two ways for you to complete the MPN:

                 a) sign a paper MPN and then mail back to your lender/guarantor
                 b) sign the MPN electronically on your lender's/guarantor's website

    You will receive instructions from your lender/guarantor on which of the two options above applies to your MPN. The MPN is valid for all subsequent PLUS loans you may receive from your selected loan lender; however, if you choose a new lender a new MPN will be required.
  5. Funds received at Emory will be applied first to your student account, and in the event of a credit balance, refunded to you by Student Financial Services within 7 to 10 business days after classes begin.

PLUS Lenders

In an effort to assist students and families in choosing a lender, the Office of Financial Aid has compiled a list of institutions we consider to offer competitive products, solid customer service, electronic payment of loan funds and a variety of savings programs during loan repayment. The Office of Financial Aid surveys lenders annually to provide the latest information regarding products and benefits. Information related to the Lender Survey Process is available in the Office of Financial Aid upon request. Reasons for selecting a particular lender will vary from person to person, so this list should only be used as a guide or starting point for analysis. Some choose a lender based on name recognition, immediate benefit of lower origination fees, or the long-term advantage of repayment savings programs, like an interest rate reduction as a reward for making payments on time. Please note that you are not required to use any of these lenders – the choice of lender is yours. The Office of Financial Aid will process your loan with any lender you choose. Further, the list of lenders is not in any order of preference. Choose your lender carefully with the intent that you will remain with that lender throughout your studies at Emory.

Please click the following link to review the Federal PLUS Loan Lender List.