With financial aid awarding season well on its way, our office understands there are a lot of questions parents may have surrounding the Parent Plus Loan Application process. We are here to help!

The Parent Plus Loan (PPL) is a form of financial aid which allows parents or stepparents (but not legal guardians or grandparents) to borrow up to the total annual cost of student’s undergraduate education, minus any other aid the student may be receiving in the forms of grants, scholarships, waivers or other direct loans such as the Subsidized or Unsubsidized loans. Unlike other forms of aid, the PPL is not based on the family’s income or asset information but rather the parent’s credit history. This means the parent applying can either be approved or denied depending on their credit history.

How does it work, and when can parents apply for the Parent Plus Loan?

When the student’s financial aid award letter is ready, Student Financial Services will send an email notification to the student’s preferred email address. Once your student has received their award letter, a parent may complete the PPL application by following these steps. Because loan interest rates for the 2016-2017 academic year are not yet set by the Department of Education (this will not happen until July 1st) PPL applications will not be processed until this time. Once the interest rates are set, the Department of Education will begin processing PPL applications and credit checks will be initiated to determine loan eligibility. It can take up to 5 business days to receive the credit decision from the Department of Education once credit checks begin.

Once the credit check is complete, the parent borrower will receive an email from the Department of Education, and from WSU, on the status of the credit decision. If approved, the PLUS Loan Master Promissory Note (MPN) must be completed by the parent borrower on studentloans.gov before financial aid begins to disburse in the month of August. This will ensure students receive their aid on time. If denied, the communication received will explain the next steps and other options available to your student.

As always, our office is here to help! If you or your student have any questions, feel free to contact us Monday through Friday, from 8 a.m. to 5 p.m. by calling (509) 335-9711 or emailing financialaid@wsu.edu. If you happen to be on the Pullman campus, you can also schedule an appointment to meet with an SFS advisor, Monday through Friday, from 8 a.m. to 4 p.m. by visiting financialaid.wsu.edu.