FEDERAL DIRECT PLUS (PARENT) LOANS AT HUNTER COLLEGE

The parents of dependent students may borrow funds from the Federal Direct Loan Program to help pay for the cost of attendance at Hunter College for the dependent student.  The amount that the parent may borrow is determined by the Office of Financial Aid at Hunter College.  The maximum loan amount is the difference between the cost of attendance and the total amount of financial aid and scholarships that the student is receiving from all sources.  Information about the cost of attendance at Hunter College is available on our web site.

STEP 1: FILE A FAFSA

Every student whose parent wants to apply for a Federal Direct PLUS Loan at CUNY must first file a Free Application for Federal Student Aid (FAFSA).  The FAFSA can be completed on-line at www.fafsa.ed.gov.  Using the Department of Education issued PIN as an electronic signature on the FAFSA will help speed the application process.   The parent should also obtain a Department of Education PIN, which will serve as their electronic signature.  Once the FAFSA is processed, students will receive a Student Aid Report (SAR) from the Central Processor.  If Hunter College was one of the colleges reported on the FAFSA by the student to receive the FAFSA information, the Office of Financial Aid at Hunter College receives an electronic record of the application.  Some students who file a FAFSA will have their application selected by the U.S. Department of Education for a process called verification.  These students must provide copies of their family's federal income tax returns and additional household information to the Office of Financial Aid.  Some students who file a FAFSA may also have their applications selected for review by CUNY if the application information seems incorrect or inconsistent.  These students must review their application information with the Office of Financial Aid and provide explanations and/or make appropriate corrections to the application information. 

STEP 2: COMPLETE A REQUEST FORM

The parent must complete a Request for a Federal Direct PLUS Loan, available in the OASIS in Room N217 North, and available on our web site at www.hunter.cuny.edu/finaid/forms.html. The completed form can be returned to the Office of Financial Aid in person, mailed to the office, or faxed to the office at (212) 650-3666.

STEP 3: THE ELECTRONIC MASTER PROMISSORY NOTE (MPN)

 Parent borrowers must complete a Federal Direct PLUS Loan MPN in order to receive their Direct PLUS Loan funds. Once you complete the MPN, you will not have to complete another Federal Direct PLUS Loan Promissory Note for the duration of the student’s education at Hunter College.

What To Have On Hand When Completing the Electronic MPN online:

• Department of Education PIN**
• your social security number

• permanent address and telephone number
• driver license number

**To complete the Electronic MPN on the Web, you'll need a PIN issued by the U.S. Department of Education. If you do not already have a PIN, you should apply for one immediately at www.pin.ed.gov. It will take approximately three business days after you request your PIN for you to receive an e-mail notification with instructions on how to retrieve it electronically, or 7-10 days to receive it in the mail via the U.S. Postal Service.  If you already have a PIN, but you cannot locate it, see pin.ed.gov/pinlose.htm (Note: Your PIN is not the same as the DRN number shown on your student Aid Report.)

How to complete the Electronic MPN:
When completing the MPN online at dlenote.ed.gov , it is extremely important to first review the "What You Need" and "What to Expect" sections of the Web site to be SURE you have a compatible browser and the correct settings for Adobe Acrobat Reader.

We encourage you to complete the MPN online at dlenote.ed.gov in order to receive your Federal Direct PLUS Loan funds in a timely manner. When you complete the MPN online, you receive a confirmation number immediately so that you know the federal government (the lender) has received and accepted the MPN instantaneously. If you request that a paper copy of the MPN be sent to you for completion, there are more steps involved in approving and disbursing your Federal Direct Loan, possibly causing delays in receiving your loan funds.

When to complete the Electronic MPN:

The Electronic MPN should be completed as soon as the parent borrower decides to request a Federal Direct PLUS Loan.  The borrower does not have to wait until the Office of Financial Aid processes the loan request.  Completing the Electronic MPN early will help to ensure the timely delivery of loan funds to the borrower.

STEP 4: CREDIT CHECK, APPROVAL BY THE DEPAPARTMENT OF EDUCATION AND THE DIRECT LOAN SERVICER

The Office of Financial Aid at Hunter College originates loans for applicants after the student has registered for classes, since the number of credits for which the student enrolls is one of the factors in determining the amount of the approved loan.  The loan record is first sent for a credit check before processing continues. If credit is approved, the loan record is then sent by CUNY to the Depaprtment of Education for approval to disburse the loan funds and to the Direct Loan Servicer, which checks the promissory note status.  

Disbursement of Federal Direct PLUS Loan funds at Hunter College is made by check which is mailed to the parent by the college’s Bursar’s Office.  (Direct Deposit is not available at this time to parents who borrow Federal Direct PLUS Loan funds.) 

If the student has any outstanding charges owed to the college for the current year, the Bursar’s Office will deduct the amount of those charges from the loan funds before the disbursement is made. 

 BORROWING LIMITS    ENTRANCE COUNSELING   EXIT COUNSELING              DIRECT LOAN CONSOLIDATION DIRECT LOAN PROMISSORY NOTE       APPLICATION PROCESS