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Indiana Wesleyan University
Financial Aid Office
1900 W. 50th St.
Marion, IN 46953
800-621-8667, ext. 2516
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
The student must have filed a year-appropriate FAFSA and all associated paperwork to complete the financial aid file. The borrowing parent must have completed a Direct Parent PLUS Loan Request and credit check and Parent PLUS Master Promissory Note.
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
All application items, except for the Parent PLUS Master Promissory Note, must be completed annually.
EFC eligibility requirements:
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 education related expense
4201 S. Washington St., Marion, IN 46953
866-468-6498 | 765-674-6901
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