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PLUS Application and Master Promissory Note

Beginning July 1, 2006, either a graduate/professional student or the parent of a dependent undergraduate student may apply for a Federal PLUS loan to pay for postsecondary educational expenses.

PLUS MPN Forms
The Addendum to the Federal PLUS Loan Application and Master Promissory Note and Endorser Addendum discloses changes to PLUS loan terms and conditions required by the Higher Education Reconciliation Act of 2005 (HERA) and the College Cost Reduction and Access Act of 2007 (CCRAA). The PLUS MPN includes an application that the borrower must complete to apply for the loan and a promissory note to secure the debt. The PLUS MPN also provides instructions for completing the form, important information regarding the borrower's rights and responsibilities, and an overview of the loan process. When the PLUS MPN and PLUS Addendum have conflicting information, the Addendum takes precedence.

The PLUS School Certification is completed by an authorized school official. The official certifies the student's and, if applicable, the parent's eligibility for the loan.

Usage
The PLUS MPN must be used for all loan periods beginning on or after July 1, 2004, or for any loan certified on or after July 1, 2004, regardless of the loan period.

The Addendum to the PLUS MPN and Endorser Addendum must be used with the PLUS MPN and the PLUS Endorser Addendum until new forms are approved by the U.S. Department of Education.

TG PLUS MPN Wrap
This wrap describes the PLUS MPN process to borrowers and is designed to fold around the PLUS MPN.

Endorser Addendum to PLUS MPN
The Addendum to the Federal PLUS Loan Application and Master Promissory Note and Endorser Addendum discloses changes to PLUS loans required by the Higher Education Reconciliation Act of 2005 and the College Cost Reduction and Access Act of 2007 (CCRAA). It also explains how to complete the PLUS MPN Endorser Addendum correctly, given the new PLUS rules. The Addendum to the PLUS MPN and Endorser Addendum must be used with the PLUS MPN Endorser Addendum until new PLUS forms are approved.

An endorser for a PLUS loan is an individual who completes and signs the Endorser Addendum and, in so doing, contractually agrees to be secondarily liable for a PLUS loan debt as identified on the PLUS MPN Endorser Addendum.

Plain Language Disclosure
The Plain Language Disclosure (PLD) has been updated to include provisions of the Higher Education Reconciliation Act of 2005 (HERA) and the College Cost Reduction and Access Act of 2007 (CCRAA) as well as key points that borrowers should be aware of as they borrow subsequent loans under a PLUS MPN. The PLD should be provided to subsequent borrowers of PLUS Loans (those who have already signed an MPN, received a loan, and are borrowing again) as well as first time borrowers whose loans were disbursed on or after October 1, 2007, but before the revised PLD was approved and available. These borrowers do not currently have a second or subsequent loan but received the prior addendum when their loans were disbursed. Most entities provide the PLD on the reverse side of, or as an enclosure with, the Notice of Guarantee (NOG)/Disclosure.

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