Loan Information for Students and Parents
Whitworth University administers federal Student and PLUS loans through the Federal Direct Loan
For new borrowers or previous borrowers with no outstanding balances as of July 1, 2013, please
Click on the loan program below to jump to more information and application processes:
Federal Direct Student Loans
According to federal regulations, institutions are to disclose to students the average amount a student would borrow on the Federal Direct Student Loan programs as well as the Federal Direct Graduate PLUS Loan for graduate students. The following chart indicates those average amounts reflected by student program for the 2014-2015 academic-year.
*The Standard Repayment Plan is the most aggressive payment plan offered by the Federal Direct Loan Servicing Center. There are other repayment plans that are offered and would reduce the monthly payments.
Enrollment status information that has an impact upon loan repayment:
Undergraduate students must be enrolled in six credits or more to be considered half-time.
Graduate students must be enrolled in three credits or more to be considered half-time.
The Stafford exit loan counseling process will be required once a student is no longer enrolled at least half time.
Online Federal Direct Loan Processes:
Complete Federal Direct Student Loan Electronic Master Promissory Note: www.studentloans.gov
Complete Federal Direct Student Loan Entrance-Loan Counseling Process: www.studentloans.gov
Complete Federal Direct Student Loan Exit-Loan Counseling Process: www.studentloans.gov
You can always view your federal student loan history on National Student Loan Data System for Students (NSLDS) at www.nslds.ed.gov.
For a complete list of federal loan servicers, visit: https://studentloans.gov/myDirectLoan/additionalInformation.action
Federal Direct Parent Loans are loans borrowed by parents for dependent students who are enrolled at least half time. A parent can be a student's biological or adoptive parent or the student's stepparent, if the biological or adoptive parent has remarried at the time of application. Federal Direct Parent Loans are loans that do require credit approval. Interest is charged at the time of disbursement. The parent can choose to pay the interest or defer it as long as the student remains in school at least half time. Repayment begins within 60 days from when the student is no longer enrolled.
_____Step 2: Using your FSA ID, log into www.studentloans.gov and complete the 2015-16 Parent Loan Request process. Parent borrowers will be notified immediately if they are approved or denied for the loan.
_____ Complete an electronic PLUS Master Promissory Note available at www.studentloans.gov -for parents borrowing for the first time for a student.
_____Print, complete and return the Parent Loan Self-Certification Form. This form is required for all new loans and for all parent borrowers. Whitworth must confirm parent borrowers meet all parent loan eligibility requirements before disbursing funds to a student’s account.
Denied borrowers will be given the following options during the online process:
For questions related to the online processes to the Federal Parent Loan, please contact Federal Department of Education – Applicant Services at 1-800-557-7394.
The Federal Direct Graduate PLUS Loan program is similar to the Federal Direct Parent Loans. To be considered for a Graduate PLUS Loan, students must first apply with a FAFSA to determine eligibility for the Stafford Loan Program. This loan is not based on financial need; the student must show credit-worthiness, and interest is charged while the student attends school. Principal and interest repayment begins within 60 days from the date that the student is no longer enrolled at least half-time.
To apply for a Graduate PLUS Loan, a student must complete the Federal Direct Graduate Parent Loan Request Form online at www.studentloans.gov. The student must log into access the request process using their FAFSA login information.
If the student is approved for the loan, s/he must complete the following two online processes.
Borrowers who choose to appeal/challenge the credit decision and are approved, will be required to complete additional PLUS Credit Counseling before the school can disburse any funds on his/her behalf. The PLUS counseling can be completed at www.studentloans.gov.