Direct PLUS Pre-Approval Procedures

 

In order to determine if your parent will qualify for a Federal Direct PLUS Loan, they must complete the following:

  1. Complete and return the "Federal Direct PLUS Loan Request Form" (attached) OR complete the "Request PLUS Loan" online.
    1. If you choose to complete the "Federal Direct PLUS Loan Request Form", this document may be faxed to our office at (540) 375-2267 or mailed to the Financial Aid Office.
    1. If you choose to complete the "Request PLUS Loan" online and receive a credit decision within 2 hours, you must do the following:
  • Log into www.studentloans.gov and click on the "Request PLUS Loan" link on the left hand side of the screen.
  • Select "Parent PLUS" and supply ALL requested information on the four screens.  You must indicate the amount you wish to borrow, (remember that the Department of Education will deduct 4.288% processing fees from the amount requested).

Upon receipt, a credit check will be performed through the Department of Education. You will be notified via email of the results.

If approved, Roanoke College will mail you instructions on how to complete your Master Promissory Note. If you DO NOT want to pursue the loan, please notify us in writing within 24 hours that you do not want to pursue the loan. You may send this notification to our office at 221 College Lane, Salem, VA 24153. You may also either fax the note to us at (540) 375-2267 or email it to finaid@roanoke.edu.

If denied, Roanoke College will automatically award any additional Federal Direct Unsubsidized loan funds for which your student may be eligible and notify them in a revised financial aid award letter.

If you have any questions, contact our office at (540) 375-2235 or (800) 200-9221.We look forward to assisting you in financing your student’s education at Roanoke College.