William D. Ford Federal Head Moms and dad Together with Financing (Head In addition to Financing)
Get off Counseling: Once you graduate, stop attending or are no longer enrolled in at least 6 credit hours, you will be required to complete Exit Counseling, even if you plan to transfer to another school or return to Ivy Tech Community College in a future semester. Exit Counseling explains your responsibilities for repayment of your Direct Loan and provides information on how to manage your student loans. To complete Exit Counseling, visit and click on the “Complete Exit Counseling” link.
Repayment: Since this is a loan, you must repay the funds you borrowed along with any interest or fees that may have accrued.
You will find multiple fees selection. The quantity and you can period of your repayments is based on just how much your lent and you can and this repayment package you select. Getting information about various fees arrangements, check out .
To obtain an entire history of their government mortgage borrowing and to find your loan servicer (whether your mortgage(s) have been allotted to an effective servicer), get on brand new National Education loan Data System (NSLDS) from the nslds
When your financing is in repayment, it would be allotted to that loan servicer. You will be informed who’s servicing the loan(s) before you enter into repayment. ed.gov making use of your FSA ID.
On the Lead Mortgage system, brand new You.S. Company regarding Knowledge ‘s the lender for the student loan. New Lead Along with mortgage system is available to mothers regarding a dependent student pupil who’s entitled to school funding. Unlike the latest Lead Money for students, regardless of if, parents obtaining a direct In addition to Financing must satisfy particular borrowing from the bank criteria.
- The scholar need certainly to done a free of charge App for Government Scholar Support (FAFSA) from the having Ivy Tech Community School detailed as among the university options (university code: 009917). For folks who or perhaps the beginner must fill in another data files, those individuals should become examined by Financial aid Office ahead of the loan eligibility is going to be calculated.
- Sign on to using their FSA ID. Around “Submit an application for Help” lick to the link to “Make an application for a grandfather Along with Mortgage” and stick to the strategies. Note: A credit assessment would be did.
- If for example the borrowing from the bank is approved, attempt to over a king Promissory Mention (MPN). Be sure to finish the MPN towards “Moms and dad Including” mortgage solution.
- Your information will be sent to Ivy Tech Community College, where the School funding Place of work will determine the maximum amount you can borrow. The Financial Aid Office will process your loan for the amount requested or the amount available, whichever is greater. Please note: if you selected the loan period for the entire academic year, your loan amount will be split in to half for fall semester and half for spring semester.
If your credit is not approved during the credit check process, you still have options if you wish to receive the Direct PLUS Loan. You will be notified of these options after the credit check is complete or you can contact your student’s campus School funding Workplace for information. If you are not able to obtain a Direct Parent PLUS Loan, your student may be eligible for additional Direct Unsubsidized Loan funds. The student should contact his/her campus Financial Aid Office for more information.
Borrowing Constraints: The amount a parent can borrow is based on the student’s enrollment, grade level and other financial aid received. Based on these factors, the Financial Aid Office will determine the maximum amount you can borrow.
You’ve got several servicers depending on your loan records
Send and Refunds: All federal student aid, including Direct PLUS Loans, must first be sent to Ivy Tech Community College to pay any outstanding tuition, fees or other applicable charges. If there are excess funds from the Direct PLUS Loan after all applicable charges have been paid, a refund will be generated. Visit for more information on the posting and refunding process.