Federal Direct PLUS Loan Request Form? - Auburn University at - aum 2025

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Unsubsidized loans have better interest rates and a lower fee as you noted. The fees do come off the loan, so youd have to make up the difference or take a slightly higher amount. Unsubsidized loans can benefit slightly from unpaid interest subsidies under very specific circumstances.
Direct PLUS Loans are federal loans that graduate or professional students and parents of dependent undergraduate students can use to help pay for college or career school. PLUS loans can help pay for education expenses not covered by other financial aid.
Youll go into repayment as soon as the loan is fully disbursedwhich means once its paid out. But if youre a graduate and professional student PLUS borrower, you will be placed on an automatic deferment while in school and for six months after graduating, leaving school, or dropping below half-time enrollment.)
You can check the status of your Direct PLUS Loan for parents or Direct PLUS Loan for graduate or professional students application in three ways. Log in to your StudentAid.gov account and check My Documents to see if your PLUS application is on file. Call your school for an update on your PLUS loan award.
What Are Some Reasons to Avoid PLUS Loans? First, PLUS loans have no automatic grace period. Then theres the fact they arent eligible for most IDR plans. Then, borrowing too much is easy to do, and finally, theyre nearly impossible to get out of, even in bankruptcy.
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You will also need to list AUMs Title IV school code (008310) on the FAFSA to have your information released to this institution.
The Federal Direct PLUS loan program is designed to assist parents of dependent undergraduate students who are unable to meet their expected parental contribution or have additional financial need that is not met with other financial aid resources.

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