THE WILLIAM D. FORD FEDERAL DIRECT PLUS LOAN PROGRAM FOR PARENTS
UMass Boston participates in the William D. Ford Federal Direct Loan Program. Commonly known as Direct Lending, our participation in this program allows you to borrow directly from the U.S. Department of Education. Through this program a parent of an undergraduate dependent student may borrow a Parent Loan for Undergraduate Students (PLUS). The borrower will no longer need to apply for these loans through banks or educational lenders. Instead you are able to borrow directly from (and ultimately repay the loan to) the U.S. Department of Education. UMass Boston acts as the intermediary for these loans, which streamlines the lending process and results in faster application and disbursement processes. Since you borrow directly from the U.S. Department of Education your loans will never be sold and there are numerous options for repayment and/or consolidation. Additionally, Direct PLUS Loan borrowers may take advantage of origination fee rebates that are given at the time of the loan's disbursement.
Two Easy Steps to Apply for a Federal Direct PLUS Loan:
1. Complete and Send Your Federal Direct PLUS Loan Request Form to Financial Aid Services
You may download and print the Federal Direct PLUS Loan Application here.
2. Complete Your Federal Direct PLUS Loan Master Promissory Note Online
If you have not previously borrowed a Federal Direct PLUS Loan, you must complete a Federal Direct PLUS Loan Master Promissory Note (PLUS MPN) online. In order to do this, you will need to use a parent Federal Personal Identification Number (PIN) . If you have forgotten or misplaced your PIN, or need to apply for one, go to www.pin.ed.gov to request one. Please allow approximately 10 business days to receive your PIN. The Federal Direct PLUS MPN should be completed no earlier than 90 days from the start date of the academic year for which the loan will be borrowed (app. July 1).
You may complete the Federal Direct PLUS Loan Master Promissory Note here.