INSTRUCTIONS FOR PARENTS:
Steps to Secure Your Parent Plus Loan: for Parents with prior PLUS Loans
If your parent is interested in applying for the Federal Direct Parent PLUS loan that is suggested on your financial aid award and would like to use the same Parent borrower that you previously used OR want to indicate a new borrower, please follow these instructions:
INSTRUCTIONS FOR Students and Parents With Prior PLUS Loans:
1. Log on to your NYU Albert account, go to your Student Center, and click the “View Financial Aid” link. Select the aid year in which you are applying for the PLUS loan.
2. Click ‘Accept’ to accept the PLUS Loan.
3. After you click ‘Accept’, you will be able to click on the “Select Your Parent“ link. You will be taken to a new screen.
- Click on the magnifying glass. This will locate the parent you have previously used for the Plus Loan. If you wish to use that existing parent, select their name and click 'YES'. This parent will receive an email confirming their information, and instructing them to accept the PLUS loan that has been offered.
- If you wish to use a new parent borrower, after you have clicked on the “Select Your Parent” link, you will go to “Indicate a New Borrower” and select ‘Yes’. You will then enter the new parent borrower’s email address and click ‘OK’. The parent’s email address will appear as the Parent PLUS Loan contact for the new loan and they will be sent instructions to follow to secure the loan. The instructions will state that the New Borrower must:
* Complete the PLUS Request Process at StudentLoans.gov, AND
* Sign a Parent PLUS Master Promissory Note at StudentLoans.gov (parent must sign in to the site under their own parent FAFSA PIN and login information to complete both these steps).
4. Within approximately two-three business days after completion of the previous steps, the parent borrower will receive an additional email from NYU Office of Financial Aid (financial.aid@nyu.edu) that will contain instructions and a link. The instructions in the email will explain that parents must click the link and confirm their information and willingness to borrow the PLUS Loan.
Please note: If one or more of these steps are missing, then this will delay in processing of the Parent Plus loan. Please have your student check his NYU Student Center ‘To Do’ list periodically to see what may be outstanding or missing. Also, it required that students maintain at least half-time enrollment in order to retain eligibility for federal loans, including the Parent PLUS Loan.
Steps to Secure Your Parent Plus Loan: for New PLUS Loan Parent Borrowers Only
If your parent is interested in applying for the Federal Direct Parent PLUS loan that is suggested on your financial aid award please follow these instructions:
INSTRUCTIONS FOR New PLUS Loan Parent Borrowers Only:
1. Log on to your NYU Albert account, go to your Student Center, and click the “View Financial Aid” link. Select the aid year in which you are applying for the PLUS loan.
2. Click ‘Accept’ to accept the PLUS Loan. At this time, you must provide a Parent email address. Once the student has provided your email contact, you will receive an email containing instructions stating you must:
* Complete the PLUS Request Process at StudentLoans.gov, AND
* Sign a Parent PLUS Master Promissory Note at StudentLoans.gov (parent must sign in to the site under their own parent FAFSA PIN and login information to complete both these steps).
3. Within approximately two-three business days after completion of the previous steps, the parent borrower will receive an additional email from NYU Office of Financial Aid (financial.aid@nyu.edu) that will contain instructions and a link. The instructions in the email will explain that parents must click the link and confirm their information and willingness to borrow the PLUS Loan.
Please note: If one or more of these steps are missing, then this will delay in processing of the Parent Plus loan. Please have your student check his NYU Student Center ‘To Do’ list periodically to see what may be outstanding or missing. Also, it required that students maintain at least half-time enrollment in order to retain eligibility for federal loans, including the Parent PLUS Loan.
