Types of Federal Student Loans
The Master Promissory Note (MPN) you are about to complete will enable Ottawa University to help you obtain Federal Student Loan funds. Remember that these are funds that MUST BE REPAID.
The amount you decide to borrow will be communicated to the Ottawa University Financial Aid Department via our internal forms and not during this process.
Note: You will need to log in using your personal identifiers before being able to start the loan process. Once you are logged in, please click on the “Complete MPN” link found near the bottom on the left side of the page. You will then need to select the second link “Graduate PLUS” to complete the right application.
IMPORTANT NOTE: You will need to select “Kansas” when you are prompted to select your school’s location.
Please contact the Ottawa University Financial Aid department if you have any questions regarding this process.
Dependent Student Parent PLUS Loans
Federal PLUS Loan: These loans are only for the parents of dependent, Undergraduate students. A credit check will be conducted each time you request a new loan to determine your eligibility. However, you will only be required to complete a Master Promissory Note (MPN) once.
If you are denied a PLUS loan, you can try applying with a credit-worthy endorser or your dependent student can be treated as an independent student for loan purposes and be awarded additional loan funds in his/her name. This will NOT happen automatically. The student will need to contact the Ottawa University Financial Aid Department and submit his/her request for the additional funds in writing.
Federal (PARENT) PLUS Loan Credit Check Authorization (please print, complete and submit to the Financial Aid department for processing):
download
Federal (PARENT) PLUS Loan: This loan is only available to parents of dependent students. A credit check will be required.
Interest: 7.9%
Fees: 4.0%
Up-front Interest Rebate: 1.5% (must make initial 12 required payments timely to retain this)
PLUS Entrance Counseling and Master Promissory Note