Federal Plus Loan Information

The Hawai‘i Pacific University Office of Financial Aid is committed to assisting you with funding your child’s education.  The Federal Graduate PLUS Loan (Grad PLUS Loan) enables eligible gradaute students with good credit histories to borrow funds in addition to their Stafford loans up to their Cost of Attendance.  Although we do not encourage unnecessary borrowing, we want to make you aware of this option to assist with your financing.

Grad PLUS Loan repayment begins immediately.  The interest rate is currently fixed at 8.50%.  Interest is charged on the loan from the date the first disbursement is made until the loan is paid in full.  Certain hardships may entitle borrowers to defer repayment.  Contact your lender for details.

We have made special arrangements with our preferred lenders to expedite the processing of the Grad PLUS Loan.  However, if you have previously received a Federal Plus Loan you should, if possible, select the lender that made your previous loan.

The Following Steps are Required In Order To Have Your Plus Loan Processed:

1. Student must accept the PLUS loan on the 2008-2009 Estimated Financial Aid Award Notification via their Campus Pipeline account.
    
2. Any additional documentation requested on the 2008-2009 Estimated Financial Aid Award Notification must be submitted to the Hawai‘i Pacific University Financial Aid Office.
    
3. Parent must complete and sign the PLUS Loan Application and Promissory Note enclosed and must return it to the Hawai‘i Pacific University Financial Aid Office.
    
4. You should call the Parent Answering Service at our servicer, Sallie Mae, and request a pre-approval review.  Call (888) 272-5543 or (800) 891-1410, or request a review online at www.parentanswer.com.  Please ask that the pre-approval notification be sent to the HPU Financial Aid Office so that we know whether or not to start processing your PLUS Loan Application.  We may be able to award a smaller loan amount to your son or daughter if you are not pre-approved for the PLUS Loan, but we need to know early in the process.  If you wait to do the pre-approval you may not have the necessary financial information you need to make an informed decision to attend the University.  Please request the pre-approval early and make sure the Financial Aid Office is notified promptly!

Apply for Federal Grad Plus Loan