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Transcript: How to Apply for the Parent PLUS Loan

Plain Text icon How_Apply_Parent_PLUS_Loan.txt — Plain Text, 6 KB (6445 bytes)

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This video will show you step-by-step how to apply for the Parent PLUS Loan. 

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To apply for the PLUS Loan 

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you must be a parent of a dependent student 

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who has submitted the Free Application for Federal Student Aid, 

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also known as the FAFSA.

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Applying for the Parent PLUS Loan is a 4-step process. 

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I'll show you first how to create a Friends of Penn State Account

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then explain how to access to the PLUS Request Form

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so you can then fill it out

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and sign a Master Promissory Note.

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The first step is to create a Friends of Penn State Account. 

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If you already have an Account, 

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you can skip this step. 

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To create a Friends of Penn State Account, open up your favorite browser

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and type the url elion.psu.edu

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Click on link "Parent/Other" on the left side of the page

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then, click on 
"Create an account."

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Fill out the form with your information 

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and click "Submit" at the bottom of the page. 

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Your Friends of Penn State User I.D. will look something like this.

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Except that it will include your initials. 

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The second step is Getting Access to the PLUS Request Form,

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which is linked to your student's eLion Account. 

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This step is really for your student - 

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he/she needs to give you access to the PLUS Request Form 

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from within their eLion account. 

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He/she will need your Friends of Penn State User I.D.

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Have your student log in to eLion, 

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From the menu on the left side they'll select "Personal Profile" 

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and then click on the link "Parent/Other Access." 

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Your student will need to read the information on this page 

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click "Continue"  

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and follow the prompts through the next 3 pages.

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When they get to this page, where it says,

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"Please select the appropriate eLion application you want to grant/remove access"

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your student will need to check the box next to "PLUS Request Form."

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and then click "Update Access" and

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follow the prompts through the rest of the process. 

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If you are a parent of a new student, 

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your student will not have access to eLion until they 

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attend the New Student Orientation or 

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visit a Penn State Access Account Signature Station. 

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Once your student's Penn State Access Account is activated, 

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you'll be able to complete this and the following steps.

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Now that you have access to the PLUS Request Form 

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let's move on to Step 3: Completing the Form.

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Open elion.psu.edu. 

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Log in with the Friends of Penn State User ID and password 

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that you created in Step 1. 

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Do not log in with your student's user ID. 

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From the left-hand menu, 

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click on the link "PLUS Request Form."

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Complete all fields and click "Submit."  

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Within 7 to 10 days, 

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your credit decision will arrive by mail 

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from the U.S. Department of Education. 

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If the loan is denied, your student will be considered 

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for an additional unsubsidized Stafford Loan.

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If the loan is approved, 

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the last step is signing the Master Promissory Note.

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The Parent PLUS Master Promissory Note (or MPN for short) 

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is signed electronically. 

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To sign your MPN, 

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open studentloans.gov 

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and log in with your Federal Student Aid PIN. 

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This is the same PIN you used to sign your student's FAFSA.

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Once logged in, select "Complete Master Promissory Note" 

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then select "Parent PLUS."

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Complete all steps listed to sign the MPN. 

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You'll get confirmation that it was signed. 

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After the MPN is signed, 

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the PLUS will appear as a credit on the tuition bill in eLion.

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For more information 

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visit our website studentaid.psu.edu

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Listed there is another tutorial that you might find helpful,

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"How Much of the Parent PLUS Loan Should I Borrow?"

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To learn more about the tuition bill, 

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including due dates, payment plans, and refunds, 

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please visit the Office of the Bursar at 
bursar.psu.edu

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For information about

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the New Student Orientation visit 
orientation.psu.edu


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