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How long does a Parent PLUS loan take?

aharmon196aharmon196 Registered User Posts: 4 New Member
My FAFSA + Grants/Scholarships covered almost everything, but I need about 3k more for just this Fall semester since I have chosen to commute and not live on campus and transfer to a cheaper school next semester. I still haven't been awarded, and my mother applied for PPL on the 12th. How long is that going to take, and will I get to choose how much to borrow?

What should I expect?

Student Need
Total Student Budget $25,044.00
Primary Expected Family Contribution (EFC) $0.00
Total Student Need $25,044.00
Total Financial Aid Awarded $13,262.00
Total Remaining Unmet Need $11,782.00

Student Budget
Category Amount
Other $1,604.00
Books and Supplies $1,000.00
Room and Board $9,600.00
Tuition Fees $12,840.00
Total Budget $25,044.00
Post edited by aharmon196 on

Replies to: How long does a Parent PLUS loan take?

  • mom2collegekidsmom2collegekids Registered User Posts: 82,627 Senior Member
    If your mom qualifies, you should be able to meet up to unmet need.

    For having an EFC 0, I wonder why you chose to go to a school with so much unmet need.

    It looks like you were awarded $5550 in Pell, a $5500 student loan, and maybe some work-study and/or some other small aid or Perkins. This school gave you a lousy package. Why did you go there?
  • aharmon196aharmon196 Registered User Posts: 4 New Member
    This school was absolute last resort. My only concern is being able to get to school, get school supplies, and making it through this semester.

    My mother has already been approved. I'm just wondering how it will all work, and how long it usually takes.
  • aharmon196aharmon196 Registered User Posts: 4 New Member
    can someone please help me out with this question?
  • kelsmomkelsmom Super Moderator Posts: 14,561 Super Moderator
    How long it takes varies by school. It can take anywhere from a couple days to a couple months, depending on the processing time for the particular school. In addition, you will need to follow the rules the school has for PLUS, so it might involve more than just applying - and the application itself has to be "just right" - no mistakes (you would not believe how many social security number, birth date, missing amounts, missing terms, students who obviously signed for their parents, etc financial aid offices see).

    How do you know that your mom was approved? Did she do the online application? If so, do you know that your school uses that? The school where I work does not participate, so parents must apply with a paper application & that has to be processed.

    If your school participates in the online application and your mom has been approved, has she signed the Master Promissory Note yet? She would need to go to www.studentloans.gov to do that - she will have to sign in with her FAFSA PIN. Is the PLUS loan in her name or in your dad's name? The PIN used to sign the MPN must belong to the person on the PLUS application.
  • kelsmomkelsmom Super Moderator Posts: 14,561 Super Moderator
    You would need to have a PLUS loan originated by your school in order to sign the MPN - if you haven't been awarded the PLUS yet, your mom won't be able to sign the MPN. You need to contact your financial aid office - do they know you applied for a PLUS?

    You are considered a dependent student, correct?
  • aharmon196aharmon196 Registered User Posts: 4 New Member
    My mother was approved, and has signed the MPN. The school was listed, and it's almost been 10 days. There is a deadline however, and my AID hasn't covered books or much or anything aside from classes. I'm a commuting student so I do need this ASAP, money is running out.

    It only took three days for the SUB/UNSUB, this school is obviously a very big mistake. I just need to make it through this semester, because at this point dropping out I'd still owe 100% and be out of credits.
  • sk8rmomsk8rmom Registered User Posts: 5,746 Senior Member
    Please pick up the phone and call your FA office! They're really the only ones that can help you and they really are there to help students. You need solid info on this and that's the only place to get it.
  • kelsmomkelsmom Super Moderator Posts: 14,561 Super Moderator
    I think you should stop by the financial aid office - most have drop-in hours. This is the first year for the online PLUS app, which means there are bugs to work out (which is why why chose not to use it this year). Chances are, something is just not sync'ing in the process. I am willing to bet that a personal visit to explain what is NOT happening will most likely move things along.
This discussion has been closed.