Once your son or daughter has been awarded financial aid, you may want to borrow funds through a parent loan. Below are the steps that you will need to take in order to get your parent loan approved and processed.
Direct Parent Loan
- Your student must accept the parent loan award via My Financial Aid.
- You must complete and submit a Parent Loan Form.
- From the information you provide on the Parent Loan Form, we will forward your parent loan request to your lender (the Department of Education) for a credit check.
- If you are not a first-time parent loan borrower, skip this step. If you are a first-time parent loan borrower, and once the credit check has been approved, you must complete a Direct Loan Master Promissory Note. The promissory note must be completed by you (the parent borrower). For you to complete and electronically sign the promissory note, you must have a FAFSA 4-digit PIN. The PIN may be requested at www.pin.ed.gov.
- To determine how your student applies your parent loan funds to his or her registration bill, visit Receive My Aid. Any parent loan funds in excess of the amount applied toward the registration bill will be forwarded to your address in the form of a check.