Please read all information carefully. For important information on loan fees and interest rates, please view the Undergraduate Loan Chart.
Federal Direct and PLUS Loan Application Process
Direct Loan Application
Important – Students who have previously completed the Direct Loan Master Promissory Note (MPN) and Entrance Counseling will receive the full amount of their Direct loans unless the Student Loan Change Request is submitted via email to studentfinancces@augsburg.edu. Changes can be made up to 30 days after the loan has disbursed (been applied) to a student’s account.
Undergraduate students who are eligible to borrow federal loans are required to be enrolled at least half-time each semester (6 credits or more).
Students, who wish to borrow their Direct Federal Loans are required to complete the following steps. If you are not sure whether you have completed this, please review your financial aid documents through Track Your Financial Aid (Augnet login required).
Visit the student loan website.
- Complete the Direct Loan Entrance Counseling
- Complete the Direct Loan Master Promissory Note (MPN)
PLUS Loan Application (Parent Loan)
Parents, there are two steps necessary to apply for a PLUS loan:
Visit the student loan website and sign in.
- Complete the Parent PLUS Loan Application. Click “Log In”, enter your Username and Password. Select “Request a Direct PLUS Loan” to begin the Parent PLUS application and select the amount you would like to borrow for the school year.
- Remember that the amount you borrow will be split evenly between the terms of the year. For example, if you borrow $4,500, your loan will split evenly: $2,250 for Fall and $2,250 for Spring
- There is an origination fee. Review the Loan Calculator to help determine how much you will need to borrow.
- Complete a Parent PLUS Loan Master Promissory Note (MPN). Click “Log In”, enter your Username and Password to begin the Master Promissory Note (MPN).
- When applying for a loan you will need to enter the loan period or the terms in which the loan will be used. The amount you borrow will be split evenly between the terms you indicate on your application. For example, if you include fall and spring dates, your loan will split evenly in half. Use the loan period listed below:
| 2026-2027 Year | Beginning of Term | End of Term |
| Summer 2026 | 05/18/2026 | 08/21/2026 |
| Academic Year 2026-2027 | 09/02/2026 | 05/07/2027 |
| Fall 2026 Only | 09/02/2026 | 12/18/2026 |
| Spring 2027 Only | 01/19/2027 | 05/07/2027 |
| Summer 2027 | 05/17/2027 | 08/20/2027 |
Augsburg will be notified that the student once you have completed each step in approximately 2-3 business days. Your student can view whether or not these have been received and what aid you can expect each term by logging into your Augnet account, “Records Registration & Finances” and then selecting “Track My Financial Aid“.
If you are requesting that a credit refund be issued to the parent, please review the Credit Refund Policy to make sure you understand when a parent would receive a refund.
If you need to change your requested PLUS Loan Amount after you have submitted your application, please email studentfinances@augsburg.edu. Changes can be made up to 30 days after the loan has disbursed (been applied) to a student’s account.
Private Loan Options
Private alternative loans should be utilized only after all other financial aid resources have been exhausted. Private loan interest rates may be variable or fixed. Rates are often based on credit strength of applicant and or cosigner. Please follow the steps listed below to apply for a private alternative loan.
- Research and choose your lender. You may look at Augsburg’s lender list or look at other private loan options. (please note: students have the option to choose a lender not listed on Augsburg’s lender list)
- Apply for the loan, following the steps the lender provides.
- Private loans can take 2-3 weeks to process. It is recommended that students begin applying for private loans before the semester starts.
- When applying for a loan you will need to enter the loan period or the terms in which the loan will be used. The amount you borrow will be split evenly between the terms you indicate on your application. For example, if you include fall and spring dates, your loan will split evenly in half. Use the loan period listed below:
| 2026-2027 Year | Beginning of Term | End of Term |
| Summer 2026 | 05/18/2026 | 08/21/2026 |
| Academic Year 2026-2027 | 09/02/2026 | 05/07/2027 |
| Fall 2026 Only | 09/02/2026 | 12/18/2026 |
| Spring 2027 Only | 01/19/2027 | 05/07/2027 |
| Summer 2027 | 05/17/2027 | 08/20/2027 |
*For information on how Augsburg selects lenders listed on the preferred lender list, view our Preferred Lender Arrangement Form.*