If you are a graduate student or a parent and your student needs additional funds to cover the cost of tuition, housing (if applicable), and miscellaneous expenses then you may want to consider applying for a Graduate/Parent PLUS loan.
Step 1: Complete the online PLUS application:
- The GRADUATE student or PARENT of an undergraduate student signs in with their FSA User ID and password.
- Select the correct academic year.
- Complete the application
- When the application is complete you will be notified instantly of the results. It’s recommended that you keep a copy of the results for your records. FMU will be notified electronically.
Step 2: If PLUS is APPROVED and parent wants to continue with the PLUS process:
- Complete the Master Promissory Note and any other requirements.
Step 3: If PLUS is DENIED …
Once your financial assistance file is complete, the student will automatically be awarded additional unsubsidized direct loan funds in their name. Typically, the additional loan funds amounts are as follows:
Freshman or Sophomore $4000 year – $2000 per semester
Junior or Senior $5000 year – $2500 per semester
Please note, this does not apply to Graduate borrowers.
Step 4: How to determine when your PLUS or additional loan funds are on your FMU account:
Go to FMU’s Patriot Portal and select ‘Financial Aid’. Note: If this is your first time going to the Patriot Portal, set up the Portal for the first time.