Eastern Mennonite University

Applying for a Federal Stafford and/or PLUS Loan

Students must complete the FAFSA in order to be considered for Federal Stafford or PLUS loans. Each Financial Assistance applicant will receive an appropriate loan application with their award letter. Award letters will indicate subsidized, unsubsidized and PLUS loan eligibility.

If a student or parent decides to borrow, the EMU Federal Stafford Loan & PLUS Loan Request Form sent with the EMU award letter must be completed and returned to the Financial Assistance Office.

Stafford and Parent PLUS Loans

After carefully reviewing the features offered by a wide range of lenders, we have chosen the lenders listed below because they offer a superior combination of savings, customer service, and loan processing reliability. You may select a lender of your choice, though. Please contact the financial assistance office and we will provide instructions on how to apply for a loan with other lenders.

To complete the MPN for lenders Chase, Sallie Mae ED Trust, Sun Trust, Wachovia, and PVFCU click here: Master Promissory Note (MPN)

First-time Federal Stafford or Parent PLUS loan borrowers must complete a Master Promissory Note, now available online.

Federal regulations require us to give an entrance interview, also now available online, to all first-time Federal Stafford loan borrowers. (See the Federal Stafford Loan Entrance Counseling for more information.)

PLUS Loan Online Preapproval

PLUS Loan Online Preapproval (Chase 803000; Sallie Mae Ed Trust 802218; SunTrust 820564; Wachovia 830005 Only)
PLUS Loan Online Preapproval (For Lender Park View Federal Credit Union 832203 Only)

To be eligible to borrow under the Federal PLUS Loan Program, you may not have an "adverse credit history." Your lender will review your credit history to make sure you are eligible. When you complete the "PLUS Loan Online Pre-approval Form," your lender will obtain your credit report. If you choose to complete a credit check, this option is available online.

Alternative Loans

Alternative loans should only be borrowed when all other financing options have been exhausted. Alternative loans are not federal student loans; they are borrowed from a bank and generally do not have the same benefits of a federal loan. Alternative loans are based on credit, so not everyone will be eligible. The interest rate is most often a variable interest rate; the rate is determined based on the borrower’s credit and the credit of a co-signer. It is highly recommended that students have a credit worthy co-signer; most often a credit worth co-signer will lower the interest rate.

After carefully reviewing the features offered by a wide range of lenders, we have chosen the lenders below because they offer a superior combination of savings, customer service, and loan processing reliability.

Click here to complete an alternative loan application for Sallie Mae, Wachovia, SunTrust, and Campus Door.

You may, of course, select a lender of your choice. Please contact the financial assistance office if you would like to do so and we will provide instructions on how to apply for a loan with that lender.

Additional Information