{"id":9713,"date":"2012-09-17T19:44:04","date_gmt":"2012-09-18T00:44:04","guid":{"rendered":"http:\/\/www.augsburg.edu\/?page_id=9713"},"modified":"2025-07-16T01:45:48","modified_gmt":"2025-07-16T01:45:48","slug":"undergraduate-day-2","status":"publish","type":"page","link":"https:\/\/www.augsburg.edu\/studentfinancial\/loans\/undergraduate-day-2\/","title":{"rendered":"Undergraduate Loan Options"},"content":{"rendered":"<p>Please read all information carefully. For important information on loan fees and interest rates, please view the\u00a0<a title=\"\" href=\"http:\/\/www.augsburg.edu\/studentfinancial\/loans\/day-loan-chart\/\" target=\"_self\" rel=\"noopener\">Undergraduate Loan Chart<\/a>.<\/p>\n<h2>Federal Direct and PLUS Loan Application Process<\/h2>\n<h3>Direct Loan Application<\/h3>\n<p><em>Important<\/em>\u00a0&#8211; Students who have previously completed\u00a0the 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.\u00a0 Changes can be made up to 30 days after the loan has disbursed (been applied) to a student&#8217;s account.<\/p>\n<p><em>Undergraduate students who are eligible to borrow federal loans are required to be enrolled at least half-time each semester (6 credits or more).<\/em><\/p>\n<div>\n<p>Students, who wish to borrow their Direct Federal Loans are required to complete the following steps.\u00a0 If you are not sure whether you have completed this, please review your financial aid documents through <a href=\"https:\/\/augnet.augsburg.edu\/protected\/administration\/enrollment\/netpartner\/netpartner-wrapper.html\">Track Your Financial Aid<\/a>\u00a0(Augnet login required).<\/p>\n<p>Visit the <a href=\"https:\/\/studentaid.gov\/understand-aid\/types\/loans\">student loan website<\/a>.<\/p>\n<ol>\n<li>Complete the <a href=\"https:\/\/studentaid.gov\/app\/counselingInstructions.action?counselingType=entrance\" target=\"_blank\" rel=\"noopener noreferrer\">Direct Loan Entrance Counseling<\/a><\/li>\n<li>Complete the <a href=\"https:\/\/studentaid.gov\/app\/launchMpn.action\" target=\"_blank\" rel=\"noopener noreferrer\">Direct Loan Master Promissory Note (MPN)<\/a><\/li>\n<\/ol>\n<p><a href=\"https:\/\/www.augsburg.edu\/studentfinancial\/financial-aid\/specialcircumstances\/\">Find out about additional steps required if you are a dependent student and are in need of additional Direct Loan funds.<\/a><\/p>\n<\/div>\n<h3>PLUS Loan\u00a0Application\u00a0<em>(Parent Loan)<\/em><\/h3>\n<p><em>Parents, there are two steps necessary to apply for a PLUS loan:<\/em><\/p>\n<p>Visit the <a href=\"https:\/\/studentaid.gov\/plus-app\/\">student loan website<\/a> and\u00a0sign in.<\/p>\n<ol>\n<li>\u00a0Request a PLUS Loan<\/li>\n<\/ol>\n<ul>\n<li>When applying for a loan you will need to enter the loan period or the terms in which the loan will be used.\u00a0 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.\u00a0 Use the loan period listed below:<\/li>\n<\/ul>\n<table style=\"height: 140px;\" width=\"1351\">\n<tbody>\n<tr>\n<td width=\"208\">2025-2026 Year<\/td>\n<td width=\"208\">Beginning of Term<\/td>\n<td width=\"208\">End of Term<\/td>\n<\/tr>\n<tr>\n<td width=\"208\">Summer 2025<\/td>\n<td width=\"208\">05\/19\/2025<\/td>\n<td width=\"208\">08\/22\/2025<\/td>\n<\/tr>\n<tr>\n<td width=\"208\">Academic Year 2025-2026<\/td>\n<td width=\"208\">09\/03\/2025<\/td>\n<td width=\"208\">05\/08\/2026<\/td>\n<\/tr>\n<tr>\n<td width=\"208\">Fall 2025 Only<\/td>\n<td width=\"208\">09\/03\/2025<\/td>\n<td width=\"208\">12\/19\/2025<\/td>\n<\/tr>\n<tr>\n<td width=\"208\">Spring 2026 Only<\/td>\n<td width=\"208\">01\/20\/2026<\/td>\n<td width=\"208\">05\/08\/2026<\/td>\n<\/tr>\n<tr>\n<td width=\"208\">Summer 2026<\/td>\n<td width=\"208\">05\/18\/2026<\/td>\n<td width=\"208\">08\/21\/2026<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<ul>\n<li>Please keep in mind that there is an origination fee on all direct loans.<\/li>\n<\/ul>\n<p style=\"padding-left: 30px;\">2.\u00a0 Complete the PLUS Loan Master Promissory Note (MPN).<\/p>\n<p>If you are requesting that a credit refund be issued to the parent, please review the <a href=\"http:\/\/www.augsburg.edu\/studentfinancial\/policies\/credit-refund\/\" target=\"_blank\" rel=\"noopener noreferrer\">Credit Refund Policy<\/a> to make sure you understand when a parent would receive a refund.<\/p>\n<p>If you need to change your requested PLUS Loan Amount after you have submitted your application please click the following link.\u00a0 Changes can be made up to 30 days after the loan has disbursed (been applied) to a student&#8217;s account.<\/p>\n<p>&nbsp;<\/p>\n<h3>Private Loan Options<\/h3>\n<p><strong>Private alternative loans<\/strong>\u00a0should 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.<\/p>\n<ol>\n<li>Research and choose your lender. You may look at <a href=\"https:\/\/choice.fastproducts.org\/FastChoice\/home\/233400\">Augsburg\u2019s\u00a0lender list<\/a>\u00a0or view other\u00a0<a href=\"https:\/\/finaid.org\/loans\/privatestudentloans\/\" target=\"_blank\" rel=\"noopener noreferrer\">private alternative loan options<\/a>.\u00a0<em>(please note: students have the option to choose a\u00a0lender not listed on Augsburg\u2019s lender list)<\/em><\/li>\n<li>Apply for the loan, following the steps the lender provides.<\/li>\n<li>Private loans can take 2-3 weeks to process.\u00a0 It is recommended that students begin applying for private loans before the semester starts.<\/li>\n<\/ol>\n<ul>\n<li>When applying for a loan you will need to enter the loan period or the terms in which the loan will be used.\u00a0 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.\u00a0 Use the loan period listed below:<\/li>\n<\/ul>\n<table style=\"height: 140px;\" width=\"1351\">\n<tbody>\n<tr>\n<td width=\"208\">\u00a02025-2026 Year<\/td>\n<td width=\"208\">Beginning of Term<\/td>\n<td width=\"208\">End of Term<\/td>\n<\/tr>\n<tr>\n<td width=\"208\">Summer 2025<\/td>\n<td width=\"208\">05\/19\/2025<\/td>\n<td width=\"208\">08\/22\/2025<\/td>\n<\/tr>\n<tr>\n<td width=\"208\">Academic Year 2025-2026<\/td>\n<td width=\"208\">09\/03\/2025<\/td>\n<td width=\"208\">05\/08\/2026<\/td>\n<\/tr>\n<tr>\n<td width=\"208\">Fall 2025 Only<\/td>\n<td width=\"208\">09\/03\/2025<\/td>\n<td width=\"208\">12\/19\/2025<\/td>\n<\/tr>\n<tr>\n<td width=\"208\">Spring 2026 Only<\/td>\n<td width=\"208\">01\/20\/2026<\/td>\n<td width=\"208\">05\/08\/2026<\/td>\n<\/tr>\n<tr>\n<td width=\"208\">Summer 2026<\/td>\n<td width=\"208\">05\/18\/2025<\/td>\n<td width=\"208\">08\/21\/2026<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>*For information on how Augsburg selects lenders listed on the preferred lender list, view our\u00a0<a title=\"Preferred Lender Arrangement Form\" href=\"https:\/\/web.augsburg.edu\/enroll\/PreferredLender.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Preferred Lender Arrangement Form.<\/a>*<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Please read all information carefully. For important information on loan fees and interest rates, please view the\u00a0Undergraduate Loan Chart. Federal Direct and PLUS Loan Application Process Direct Loan Application Important\u00a0&#8211; Students who have previously completed\u00a0the Direct Loan Master Promissory Note (MPN) and Entrance Counseling will receive the full amount of their Direct loans unless the &#8230;<\/p>\n","protected":false},"author":5,"featured_media":0,"parent":38859,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-9713","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/www.augsburg.edu\/studentfinancial\/wp-json\/wp\/v2\/pages\/9713","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.augsburg.edu\/studentfinancial\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.augsburg.edu\/studentfinancial\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.augsburg.edu\/studentfinancial\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.augsburg.edu\/studentfinancial\/wp-json\/wp\/v2\/comments?post=9713"}],"version-history":[{"count":65,"href":"https:\/\/www.augsburg.edu\/studentfinancial\/wp-json\/wp\/v2\/pages\/9713\/revisions"}],"predecessor-version":[{"id":41018,"href":"https:\/\/www.augsburg.edu\/studentfinancial\/wp-json\/wp\/v2\/pages\/9713\/revisions\/41018"}],"up":[{"embeddable":true,"href":"https:\/\/www.augsburg.edu\/studentfinancial\/wp-json\/wp\/v2\/pages\/38859"}],"wp:attachment":[{"href":"https:\/\/www.augsburg.edu\/studentfinancial\/wp-json\/wp\/v2\/media?parent=9713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}