Direct Parent PLUS Loan

[UTCOLA]

<p>Has anyone completed one in the past? My parents and I have tried to figure out what we need to do, because we still owe money and the August 11th deadline is coming up quickly. But it still says that there are steps we need to take to complete the loan and none of us have any idea what those steps are. There have been no emails about it or anything. So if somebody could give a quick walkthrough or a website or anything I would appreciate it VERY much. We've already checked the CASH page for UT. There is no information there. We're kind of just walking in the dark right now.</p>

[swimcatsmom]

<p>[FINANCIAL</a> AID: Spotlights: Questions & Answers about Direct Loans](<a href=“http://finaid.utexas.edu/spotlights/DL100_Q&A.html]FINANCIAL”>http://finaid.utexas.edu/spotlights/DL100_Q&A.html)</p>

<p>question 4</p>

<p>

Q4: What do I have to do to get a direct loan?
A: The process you will go through to obtain a direct loan will be almost identical to the process used to obtain your FFELP loan.
As in prior years, students and parents will need to complete the Free Application for Federal Student Aid (FAFSA) to establish their loan eligibility. March 31 is the priority date for completing FAFSAs for UT Austin’s summer, fall and spring semesters.
Beginning in March, the Office of Student Financial Services (OSFS) will notify students and parents about their loan awards via OSFS’s Electronic Financial Aid Notice (E-FAN). As in the past, students and parents will have the opportunity to accept or decline loan awards via the E-FAN.
If they accept their loans, students will be required to complete on-line entrance counseling to learn their rights and responsibilities as direct loan borrowers. Both students and parents will be required to complete on-line Master Promissory Notes in which they pledge to repay their loans as required by federal law and regulation.
Students and parents who complete entrance counseling and Master Promissory Notes before tuition is due will continue to have the opportunity to pay tuition with their loan proceeds. UT will continue its practice of depositing any remaining amounts directly into their bank accounts.
Go to the U.S. Department of Education’s Direct Loan Program web site for more information on direct loans.

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