Five Steps to Applying for a Federal PLUS Loan at Boston University

 

STEP ONE

FAFSA – Complete & Submit

  • Go to http://www.fafsa.ed.gov
  • Boston University FAFSA Code #002130
  • Federal regulations require that you file a FAFSA to apply for a PLUS Loan to ensure that the student applies for federal grants and other financial aid before the parent borrows a PLUS Loan.

STEP TWO

BU Undergraduate PLUS Loan Request Form – Complete & Submit

  • BU Financial Assistance begins processing PLUS Loan requests for enrollment periods starting in September in mid-June.
  • Print and complete the PLUS Loan Request form:
  • Send it to BU Financial Assistance by fax at 617-353-8200 or by mail to 881 Commonwealth Ave., Fifth Floor, Boston, MA 02215.
  • This step constitutes your request for a PLUS Loan and authorizes the U.S. Department of Education (ED) to review your credit. If your loan request is credit denied, the ED will notify you and provide guidance on how to apply with a creditworthy endorser.

STEP THREE

PLUS Loan Promissory Note – Complete Online

  • You must complete the PLUS Promissory Note if you are a first-time borrower or if you borrowed with an endorser in 2013-2014.
  • Go to studentloans.gov and use your U.S. Department of Education PIN to sign the Promissory Note.
  • Go to pin.ed.gov if you cannot recall your PIN.

STEP FOUR

BU Certification

  • BU Financial Assistance will certify your enrollment, cost of attendance, financial aid received (if any), and other eligibility information to the U.S. Department of Education usually within 10 – 15 business days from the date your financial aid (if you applied) decision is finalized.

STEP FIVE

Disbursement

  • PLUS Loan funds are disbursed from the U.S Department of Education directly to the BU student account and are viewable via the “Student Account Inquiry” function at the Student Link and Share Link.