{"id":13,"date":"2024-12-11T09:53:15","date_gmt":"2024-12-11T17:53:15","guid":{"rendered":"https:\/\/www.eou.edu\/financial-aid\/?page_id=13"},"modified":"2024-12-11T11:56:50","modified_gmt":"2024-12-11T19:56:50","slug":"direct-and-direct-parent-plus-loan-checklist","status":"publish","type":"page","link":"https:\/\/www.eou.edu\/financial-aid\/direct-and-direct-parent-plus-loan-checklist\/","title":{"rendered":"Direct and Direct Parent Plus Loan Checklist"},"content":{"rendered":"\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"1\">Step 1 \u2013 Apply for Admissions at EOU<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Students are required to be officially admitted to Eastern Oregon University.&nbsp; Please refer to the Admissions Office at <a href=\"https:\/\/www.eou.edu\/admissions\">eou.edu\/admissions<\/a>.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"2\">Step 2 \u2013 Complete a FAFSA (Free Application for Federal Student Aid)<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>In order to receive a financial aid package, students are required to complete the Free Application for Federal Student Aid (FAFSA) form from the U.S. Department of Education. Completing the FAFSA form is best done online at <a href=\"https:\/\/studentaid.gov\/h\/apply-for-aid\/fafsa\" target=\"_blank\" rel=\"noreferrer noopener\">fafsa.gov<\/a>.<\/li>\n<\/ul>\n\n\n\n<p>&nbsp;&nbsp;&nbsp;&nbsp; <strong>EOU\u2019s school code is 003193<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>Please review your Student Aid Report upon receipt!<\/em><\/li>\n\n\n\n<li>Whether you receive your Student Aid Report (SAR) online or on paper depends on whether you provide an email address on your Free Application for Federal Student Aid (FAFSA\u00ae) form. If you provide a valid email address, you\u2019ll receive an email from noreply@FAFSA.gov with instructions on how to access your SAR. If you don\u2019t provide a valid email address on your FAFSA form, you will receive either a SAR or a SAR Acknowledgement via postal mail.<\/li>\n\n\n\n<li>If you listed EOU on your FAFSA, EOU will receive an electronic version of your SAR, called an Institutional Student Information Record (ISIR). It will normally take about a week after you receive notification from FAFSA that your FAFSA form has been processed for EOU to receive and process your ISIR.<\/li>\n\n\n\n<li>If there are any discrepancies with your FAFSA (e.g. selected for verification, C Code or rejected record), the Financial Aid Office will notify you either by email or other correspondence.&nbsp; You will need to submit the necessary documents to the Financial Aid Office.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"3\">Step 3 \u2013 College Financing Offer (Financial Aid Award Letter)<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Based on the information from your FAFSA, the Financial Aid Office will provide you with a financial aid package.<\/li>\n\n\n\n<li>All new freshmen will be mailed a college financing offer (award letter).&nbsp; If you are a transfer or returning student, an electronic notification will be sent via your EOU email address instead, and a postcard will be mailed.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"4\">Step 4 \u2013 Review and Accept\/Decline your awards<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A student can view and accept\/decline their awards on <a rel=\"noreferrer noopener\" href=\"https:\/\/experience.elluciancloud.com\/eou\" target=\"_blank\">Mountie Hub<\/a> (on-line student access).&nbsp;<\/li>\n\n\n\n<li>Accepted loans will be processed with amounts as accepted.&nbsp; If you wish to accept only a partial amount of a loan, please submit a Loan Revision Request Form.<\/li>\n\n\n\n<li>Check your account for any holds that may prevent your financial aid from disbursing by logging onto <a rel=\"noreferrer noopener\" href=\"https:\/\/experience.elluciancloud.com\/eou\" target=\"_blank\">Mountie Hub<\/a> and reviewing your Financial Aid Dashboard.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"5\">Step 5 \u2013 Complete Entrance Counseling<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>If you have not previously received a Direct Loan or Federal Family Education Loan (FFEL), the Federal Government requires you to complete entrance counseling to ensure that you understand the responsibilities and obligations you are assuming.<\/li>\n\n\n\n<li>If you are a first time borrower for a Federal Direct Loan, AFTER YOU HAVE ACCEPTED YOUR LOANS ON MOUNTIE HUB, you must complete loan entrance counseling.&nbsp; If this requirement is not satisfied, it will delay disbursement of your loan funds.&nbsp; Entrance counseling must be completed in one sitting at <a href=\"https:\/\/studentaid.gov\/entrance-counseling\/\" target=\"_blank\" rel=\"noreferrer noopener\">studentaid.gov<\/a>. Most students finish entrance counseling in about 30 minutes.<\/li>\n\n\n\n<li>If you are completing entrance counseling to borrow a loan as an undergraduate student, then the entrance counseling will fulfill counseling requirements for Direct Subsidized Loans and Direct Unsubsidized Loans.<\/li>\n\n\n\n<li>If you are completing entrance counseling to borrow a loan as a graduate or professional student, the entrance counseling will fulfill counseling requirements for Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"6\">Step 6 \u2013 Complete the Master Promissory Note<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s).<\/li>\n\n\n\n<li>To take out a Direct Loan, you must also have an active Master Promissory Note (MPN).&nbsp; You can borrow additional Direct Loans on a single MPN for up to 10 years.<\/li>\n\n\n\n<li>The electronic MPN process must be completed in an entire session.&nbsp; If you exit the website without completing the MPN, you will need to start over.&nbsp; The session should take about 10 minutes.<\/li>\n\n\n\n<li>The MPN must be completed online at <a href=\"https:\/\/studentaid.gov\/mpn\/\" target=\"_blank\" rel=\"noreferrer noopener\">studentaid.gov<\/a><\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"7\">Step 7 \u2013 Dependent Students Only (Direct Parent Loan for Undergraduate Students (PLUS))<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>A Direct PLUS Loan (Parent Loan for Undergraduate Student) is a loan taken out by a parent on behalf of their college-bound child.&nbsp; This loan requires a credit check through the Department of Education on <a rel=\"noreferrer noopener\" href=\"https:\/\/studentaid.gov\/\" target=\"_blank\">studentaid.gov<\/a>.&nbsp; If a parent is interested in taking this loan, follow these steps:\n<ol class=\"wp-block-list\">\n<li>APPLY for the Parent PLUS loan at <a rel=\"noreferrer noopener\" href=\"https:\/\/studentaid.gov\/plus-app\/parent\/landing\" target=\"_blank\">studentaid.gov<\/a> after May 1.<\/li>\n\n\n\n<li>Complete the electronic Master Promissory Note (eMPN) at <a rel=\"noreferrer noopener\" href=\"https:\/\/studentaid.gov\/mpn\/parentplus\/landing\" target=\"_blank\">studentaid.gov<\/a>.<\/li>\n\n\n\n<li>Complete the <a href=\"https:\/\/www.eou.edu\/financial-aid\/files\/2024\/12\/2023-24-Parent-PLUS-Acceptance-Form.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Parent Loan Acceptance Form<\/a> and return it to EOU.<\/li>\n<\/ol>\n<\/li>\n\n\n\n<li>Funds are applied to the student\u2019s account based on our disbursement schedule.\n<ul class=\"wp-block-list\">\n<li>If a parent would like to request that excess PLUS loan funds be released to their student, please complete and return a <a href=\"https:\/\/www.eou.edu\/financial-aid\/files\/2024\/12\/2023-24-Parent-PLUS-Loan-Release-Authorization.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">PLUS Loan Release Authorization Form<\/a>.<\/li>\n\n\n\n<li>If a parent would like to request that excess PLUS Loan funds be returned to the lender, please complete this <a rel=\"noreferrer noopener\" href=\"https:\/\/www.eou.edu\/student-financial-services\/files\/2022\/11\/Financial-Aid-Return-Authorization-Website-Form-REV-112322.pdf\" target=\"_blank\">Financial Aid Return Authorization<\/a> from the <a href=\"https:\/\/www.eou.edu\/student-financial-services\/\">Student Financial Services Office<\/a>.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li>If you, as the parent, would like access to your son or daughter&#8217;s account to view disbursement or other information, your child must complete a proxy authorization and give you access through his or her Mountie Hub.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Step 1 \u2013 Apply for Admissions at EOU Step 2 \u2013 Complete a FAFSA (Free Application for Federal Student Aid) &nbsp;&nbsp;&nbsp;&nbsp; EOU\u2019s school code is 003193 Step 3 \u2013 College Financing Offer (Financial Aid Award Letter) Step 4 \u2013 Review and Accept\/Decline your awards Step 5 \u2013 Complete Entrance Counseling Step 6 \u2013 Complete the [&hellip;]<\/p>\n","protected":false},"author":491,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-13","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.eou.edu\/financial-aid\/wp-json\/wp\/v2\/pages\/13","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.eou.edu\/financial-aid\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.eou.edu\/financial-aid\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.eou.edu\/financial-aid\/wp-json\/wp\/v2\/users\/491"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eou.edu\/financial-aid\/wp-json\/wp\/v2\/comments?post=13"}],"version-history":[{"count":4,"href":"https:\/\/www.eou.edu\/financial-aid\/wp-json\/wp\/v2\/pages\/13\/revisions"}],"predecessor-version":[{"id":151,"href":"https:\/\/www.eou.edu\/financial-aid\/wp-json\/wp\/v2\/pages\/13\/revisions\/151"}],"wp:attachment":[{"href":"https:\/\/www.eou.edu\/financial-aid\/wp-json\/wp\/v2\/media?parent=13"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}