La Salle University





Applying For a Parent PLUS Loan

Instructions for Completing PLUS Loan Credit Approval

Below you will find instructions for completing a PLUS loan credit approval. Please read through these instructions and either apply via telephone number listed below(if you do not have Internet access) or click on the link at the bottom of this page to apply online. Prior to beginning this process, you should prepare by having the following information available:


Borrower/Parent:
  • Last Name
  • Telephone numbers (home and office)
  • First Name
  • Date of Birth
  • Middle Initial
  • Social Security Number
  • City, State, Zip (permanent address)
  • Alien ID# (eligible non-Citizens)
  • Driver's License State/Number
  • Indicate the following loan period:
    August 2007 - May 2008
Student:
  • Last Name
  • First Name
  • Middle Initial
  • Date of Birth
  • Social Security Number
  • Alien ID# (eligible non-Citizens)

Regardless of whether you choose to call for a pre-approval or use the online process, you will be notified immediately of your PLUS Loan approval status.

  1. If your PLUS loan is "pre-approved", the following will occur:
    • Sallie Mae will notify La Salle University via E-mail of your approval status.
    • La Salle University will certify a loan for you and submit that information to Sallie Mae within one week.
    • You will receive a letter with instructions from Sallie Mae regarding electronically signing (e-sign) your pre-certified PLUS Master Promissory Note (MPN) from AMS/Sallie Mae
    • Sallie Mae will mail to you a pre-printed loan application/promissory note (unless you have already signed a master promissory note) with instructions to sign and return the loan application. Applications should be returned to: Sallie Mae, P.O Box 147020, and Gainesville, FL 32614-7020. (This address is also provided in the insert letter with your loan application.)
    • When your signed PLUS Master Promissory Note is received by Sallie Mae, your loan will be disbursed on the date as indicated by La Salle according to federal regulations.
  2. If your PLUS loan approval is "pending"
    • Sallie Mae will provide instructions to you to help you satisfy any additional outstanding information or credit-related items
    • If these outstanding items are resolved (within 10 business days), your loan approval status will update to "approved" and the instructions provided in #1 above will apply
    • If your loan is not pre-approved and the student wishes to borrow additional Stafford Unsubsidized loan, please forward the Plus denial notification letter to the La Salle Office of Student Financial Services

If you have questions prior to beginning this process, please call the office of Student Financial Services at: (215) 951-1070.

If you are ready to begin your PLUS loan pre-approval, please click here.

If you have any questions, please contact Sallie Mae's Parent Answer® counselors Monday through Friday, 8 a.m. to 11 p.m. ET at 1.800.253.6516.

Benefits of Borrowing a PLUS loan through Sallie Mae include:

3.75% account credit after first 12 payment made by initially scheduled due dates
.5% Rate reduction for on time payment of first scheduled payment

Parents have the right to choose their own lenders. If you do not wish to borrow a PLUS Loan through Sallie Mae, please contact us for instructions as to how to apply for a PLUS Loan through another lender.