Optional PLUS Loans
Direct PLUS Loan Application Process
Federal Direct PLUS Loans have additional eligibility requirements and, thus, the application process is more involved. In addition to the steps outlined on the Step 2: AOMA Financial Aid webpage, students borrowing Direct PLUS loans must follow these procedures:
- Complete a Consent to Obtain Credit Report form with the Financial Services Administrator.
AOMA Financial Aid Office processes the credit check through the Department of Education.
If credit is approved:
- Complete a Federal Direct PLUS Loan Application and Master Promissory Note (PLUS MPN).
- Complete Direct PLUS Loan Entrance Counseling with the AOMA Financial Aid Office.
If credit is declined:
- Student is not, on their own, eligible for Direct PLUS Loans. The student has the option of finding an endorser who will share responsibility for the loan.
- If endorser is involved, student and endorser must reapply together.
- If credit is approved:
Students may re-apply for Direct Graduate PLUS loans each Borrower Based Academic Year (BBAY - three terms at AOMA). Credit checks are performed upon application. Please note that credit often changes from year to year. Receipt of a PLUS loan in one BBAY does not guarantee receipt of a PLUS loan in subsequent BBAYs.