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Federal PLUS Loan Financial Aid

A Free Application for Federal Student Aid (FAFSA) must be completed before applying for a student loan

PLUS loans are federal student loans that allow graduate students, or parents of dependent undergraduate students, to borrow funds to help cover the cost of the student's education.

Eligible students must have a completed FAFSA for the year the PLUS loan will be borrowed. If you are a parent borrowing on behalf of your child, you must meet the general eligibility requirements for federal student aid. 

PLUS Loan FAQs

To receive a Direct PLUS Loan, you must
  • be a graduate or professional degree student enrolled at La Sierra University leading to a degree or certificate, or be the parent (biological, adoptive, or in some cases, stepparent) of a dependent undergraduate student enrolled at least half-time at La Sierra University; and
  • meet the general eligibility requirements for federal student aid. If you are borrowing on behalf of your child, your child must also meet these requirements.

If you are eligible for a Direct PLUS Loan, you will be required to sign a Master Promissory Note (MPN), agreeing to the terms of the loan. Graduate or professional students will also be required to complete entrance counseling before receiving a PLUS loan. 

For Direct PLUS Loans first disbursed on or after July 1, 2023, and before July 1, 2024, the interest rate is 8.05%.
 
These are fixed interest rates for the life of the loan.

Yes, there is a loan fee on all Direct PLUS Loans. The loan fee is a percentage of the loan amount and is proportionately deducted from each loan disbursement. The percentage varies depending on when the loan is first disbursed, as shown in the chart below. 

First Disbursement Date                              Loan Fee                                
On or after Oct. 1, 2020, and before Oct. 1, 2024 4.228%
On or after Oct. 1, 2019, and before Oct. 1, 2020 4.236%

When you receive your Direct PLUS Loan, you will be contacted by your loan servicer. Your loan servicer will provide regular updates on the status of your Direct PLUS Loan and will provide you with information on how and when to repay your loan. Find more information about your loan servicer.top 

Your Direct PLUS Loan enters repayment once your loan is fully disbursed (paid out).  However, if you are a graduate or professional student, your loan will be placed into deferment while you are enrolled at least half-time and for an additional six months after you cease to be enrolled at least half-time.  If you are a parent borrower, you may contact your loan servicer to request a deferment
  • while you or your child are enrolled at least half-time and
  • for an additional six months after your child ceases to be enrolled at least half-time.
If your loan is deferred, interest will accrue on the loan during the deferment. You may choose to pay the accrued interest or allow the interest to capitalize when the deferment period ends. Your loan servicer will notify you when your first payment is due. 
There are several repayment plans that are designed to meet the different needs of individual borrowers. Learn about your repayment options.
If you are unable to make your scheduled loan payments, contact your loan servicer immediately. Your servicer can help you understand your options for keeping your loan in good standing. For example, you may wish to change your repayment plan or request a deferment or forbearance that allows you to temporarily stop or lower the payments on your loan. Learn more about deferment or forbearance options.

Contact Info

sfs@lasierra.edu
951-785-2175
951-785-2942 (Fax)

Office Hours

Monday - Thursday:
8:30 a.m. to 4:30 p.m., CLOSED for lunch (12-1pm)
Friday:
8:30 a.m. to 12:00 p.m.

During the school year, all service offices close on Tuesdays from 11:00 a.m. to 12:00 p.m. for University Worship.

Office Location

Administration Building, Room 101.

Connect with us

SFS Social Media @lasierrasfs

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