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Federal Direct Graduate PLUS Loan

  1. Undergraduate Students
  2. Graduate Students
  3. Pharmacy Students
  4. Forms and Resources
  5. Self-Service Financial Aid (19-20 year)
  6. MyFinancialAid (18-19)
  7. Contact Us

Federal Direct Graduate PLUS Loans are fixed-rate loans available to degree-seeking graduate or professional students enrolled at least half-time. The annual limit on a Graduate PLUS Loan is equal to the cost of attendance minus any other financial aid you receives. For example, if the cost of attendance is $40,000 and you receive $20,500 in other financial aid, you can request up to $19,500.

Note: Steps 1, 2, 3 and 5 must be completed every year, while steps 4 is a one time requirement (unless the graduate student is required to obtain an 'Endorser' for their Grad PLUS loan).

1. Complete the FAFSA

Complete the Free Application for Federal Student Aid (FAFSA) to determine loan eligibility.

2. Record your eAward Decision

NOTE: Due to switching from ‘MyFinancialAid’ to ‘Self-Service’, you MUST note which award year you are working from. You may either choose award year ‘2018-19’ or award year ‘2019-20’. Award year 2018-19 uses ‘MyFinancialAid’, while award year ‘2019-20’ uses ‘Self-Service’.

Award Year 2019-20

Log in to Self-Service Home Menu and select ‘Financial Aid.’

  • Click on ‘Review and accept your Financial Aid Award Package’ under the Checklist section.
    • NOTE: All the steps on the checklist prior to this must be completed first.
  • Review the direct loans that are part of your financial aid package and record your decision.
  • After you ‘Accept’ or ‘Decline’ the loan(s), you will be able to see the immediate changes in your eAward.
    • NOTE: If, at a later date, you change your mind regarding an ‘Accepted’ or ‘Rejected’ loan, you CANNOT change it in your Self-Service account. You will have to email finaid@cedarville.edu stating the following:
      • Your full name
      • Your ID number
      • Loan type (Subsidized, Unsubsidized, or PLUS)
        • NOTE: If changing a PLUS Loan, BOTH the student and parent must send the email.
      • Term (Fall/Spring; Fall only; Spring only; Summer)
      • Amount change: From __________ to __________
      • Status change:
        • ‘Accepted’ to ‘Rejected’
        • ‘Rejected’ to ‘Accepted’
    • The Financial Aid office will then review your request as appropriate, making sure the requested changes are within federal compliance.

Award Year 2018-19

Log in to MyFinancialAid and select ‘View your eAward’ to either ‘Accept’ or ‘Reject’ your loans.

  • Review the direct loans that are part of your financial aid package and record your decision.
  • Make sure you complete the entire process:
    • Record your loan decision(s), scroll to the bottom, and click 'continue'
    • Review the 'Information Statements,' scroll to the bottom, indicate your 'Agreement' with the terms and conditions
    • Click the 'Confirm eAward' button.
  • This is the point when your decisions are recorded and will be reported to the financial aid office the following day for processing (allow 2-3 business days for your loan decisions to be processed; at that time you will be able to see the changes on your eAward).

Questions: See FAQ for more information.

Questions: See FAQ for more information.

3. Apply for a PLUS Loan

Beginning April 1 for the upcoming academic year, you will log in to studentloans.gov using your borrower FSA ID to Apply for a Direct PLUS Loan each time you decide to borrow. Once logged in, select 'Apply for a Direct PLUS Loan,' then select the 'Direct PLUS Loan Application for Graduate/Professional Students.'

  • Applying for a PLUS Loan triggers a basic credit check
  • Once the PLUS application is submitted, you will immediately receive a credit decision of either 'Accepted' or 'Denied.'

Note: A credit decision is good for 180 days; therefore, Steps 4 and 5 below should also be completed about the same time as the loan application. This will allow the loan to be originated before the 'Accepted' credit decision expires.

4. Complete the PLUS Master Promissory Note

If you receive an 'Accepted' credit decision when applying for a PLUS loan, you must also complete the Graduate PLUS Master Promissory Note at studentloans.gov.

Note: In most cases, a Graduate PLUS Master Promissory Note will be good for 10 years once successfully completed. This Graduate PLUS MPN is separate and distinct from the MPN completed for the Direct Graduate Unsubsidized Loan.

5. Complete Cedarville's Graduate Plus Authorization Form

Complete Cedarville's Graduate PLUS Authorization Form to specify the loan amount and loan term(s) for your requested Graduate PLUS loan.

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