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. 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.
- Request a PLUS Loan
- 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:
| 2022-2023 Year | Beginning of Term | End of Term |
| Summer 2022 | 05/09/2022 | 08/12/2022 |
| Academic Year 2022-2023 | 08/31/2022 | 04/28/2023 |
| Fall 2022 Only | 08/31/2022 | 12/16/2022 |
| Spring 2023 Only | 01/09/2023 | 04/28/2023 |
| Summer 2023 | 05/08/2023 | 08/11/2023 |
- There is an origination fee. Review the Loan Calculator to help determine how much you will need to borrow.
2. Complete the PLUS Loan Master Promissory Note (MPN).
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 click the following link. 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 view other private alternative 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:
| 2022-2023 Year | Beginning of Term | End of Term |
| Summer 2022 | 05/09/2022 | 08/12/2022 |
| Academic Year 2022-2023 | 08/31/2022 | 04/28/2023 |
| Fall Only | 08/31/2022 | 12/16/2022 |
| Spring Only | 01/09/2023 | 04/28/2023 |
| Summer 2023 | 05/08/2023 | 08/11/2023 |
*For information on how Augsburg selects lenders listed on the preferred lender list, view our Preferred Lender Arrangement Form.*