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Indiana Wesleyan University
Financial Aid Office
4201 S. Washington St.
Marion, IN 46953
Parent PLUS Federal Direct Loan
Type of aid:
Federal loan taken out by the parent on behalf of the student. The parent is responsible for repaying the loan. Interest is charged at a fixed rate of 7.9%.
Parents may borrow up to the student’s full Cost of Attendance minus all other aid.
A loan fee of 4% is charged.
The student must file a FAFSA and all associated paperwork. The borrowing parent must submit an IWU Parent PLUS Federal Direct Loan Request Form and Parent PLUS Federal Direct Loan Master Promissory Note.
Apply for a Parent PLUS Federal Direct Loan here
Must be the parent of a dependent student. The parent borrower must be determined credit-worthy by the lender, and the loan amount must fit within the estimated Cost of Attendance minus other aid.
Repayment begins following the second disbursement
The Parent PLUS Federal Direct Loan Request Form and the FAFSA must be completed annually
EFC eligibility range:
Half-time or more enrollment is required by the student for the parent to obtain these funds on behalf of the student
All grade levels for all undergraduate degree programs
Costs this aid can cover:
Any educationally related expense
4201 S. Washington St., Marion, IN 46953
866-468-6498 | 765-674-6901
© 2012 Indiana Wesleyan University
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