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Federal Parent PLUS Loan
Important Message
- The U.S. Department of Education has terminated the Federal PLUS Loan Auction. If you intend to apply for a Federal Parent PLUS loan for the Fall 2009 semester you may proceed with the application process at this time by selecting Apply Now above.
William Jewell College has made applying for Federal Parent Loans for Undergraduate Students (PLUS) easy by offering a borrower-initiated process. The student's financial aid award will indicate the approximate amount necessary to cover the balance for the entire semester; however, the parent can elect to borrow more or less depending on the student's needs.
The FAFSA is required by William Jewell to process any Federal loan proceeds. Before completing the loan application, you are encouraged to visit www.fafsa.ed.gov to complete the FAFSA so that there are not delays in processing.
William Jewell College provides a recommended FFELP lender list with Simple Tuition based on past experience and qualifications; however borrowers are not limited to only these FFELP options. Should you choose to borrow from a lender not provided, contact your lender of choice regarding Prom Note completion. All loans are electronically certified online by the College's Financial Aid Office prior to disbursement and received via Electronic Funds Transfer (EFT) thru ELM Resources.
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PLUS Loan Features
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- Maximum borrowed amount equal to Jewell's cost of attendance less other aid received on a per student basis.
- A student must be enrolled at least half-time (6 hours), dependent undergraduate
- A 3.0% origination fee and a 1.0% default fee will be deducted from your loan proceeds by the Lender or Servicer.
- Parent borrower's first payment is due within 60 days after full disbursement. Forbearance and deferment is available upon request with your Lender.
- Maximum 10 year repayment, minimum payment $50
- Credit Check Required
- 8.50% Fixed interest rate
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To select a lender, simply access William Jewell College's comparison tool brought to you by Simple Tuition. You may chose to apply by phone however additional requirements will need to be completed such as signing the promissory note. By completing this process online you will have the option to sign the prom note online by completing the E-signature requirement.
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