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| Fax: (605) 995-2638 or Mail: | DWU Financial Aid 1200 W. University Ave. Mitchell, SD 57301 |
Once you have completed this form, you will be notified if you have been approved or denied.
If you, the parent, have been approved and wish to complete the application process please follow the steps below.
Applying for the Federal PLUS Loan
***Please review all steps before beginning
If you, the parent, have been denied, the student may qualify for an additional Federal Unsubsidized Stafford loan. The financial aid office will automatically receive a notice of the PLUS loan decline and revise the student’s award letter with the additional Federal Unsubsidized Stafford loan.
Loan limits
The maximum amount borrowed (determined by the financial
aid office) cannot exceed the student's cost of attendance minus other
financial aid.
Interest rate and fees
The Federal Direct PLUS Loan (Parent Loan for Undergraduate Students)
has a fixed interest rate of 7.9%.
Parent borrowers are charged a four percent origination fee * that is deducted from the gross loan amount prior to disbursement to DWU. The net loan proceeds are credited to the student’s account electronically approximately 7-10 days prior to the beginning to each term in equal disbursements.
*A 1.5% fee rebate is offered to all borrowers in anticipation of on-time
repayment. You will be eligible to keep the rebate as long as you make
your first 12 payments on-time.
| Dakota Wesleyan University 1200 W. University Ave Mitchell, SD 57301 800-333-8506 |
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