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Author Topic: Grad PLUS  (Read 16949 times)

chonralda

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Re: Grad PLUS
« Reply #160 on: July 28, 2006, 06:10:00 PM »
well, yes...signing the MPN means you agree ot the terms of the loan...ie u accept their loan offer. They would not send u an MPN, which also legally binds them, if they have not approved you for the loan....
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stephanie says...

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Re: Grad PLUS
« Reply #161 on: July 28, 2006, 07:37:50 PM »
i dunno. the way it worked for me was that i printed and signed an MPN. then i sent it in. they then approved me and contacted the school to make sure the loan amt was correct.

Bird

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Re: Grad PLUS
« Reply #162 on: July 29, 2006, 12:46:57 AM »
According to a govt. document I found online, credit approval may come AFTER the MPN is signed.  So signing the MPN does NOT mean you've been approved for the Grad Plus. 

Here's the link:
http://ifap.ed.gov/eannouncements/attachments/0623HERAOPGradPLUSAttachARevProc.doc

well, yes...signing the MPN means you agree ot the terms of the loan...ie u accept their loan offer. They would not send u an MPN, which also legally binds them, if they have not approved you for the loan....

queencruella

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Re: Grad PLUS
« Reply #163 on: July 29, 2006, 08:19:11 AM »
According to a govt. document I found online, credit approval may come AFTER the MPN is signed.  So signing the MPN does NOT mean you've been approved for the Grad Plus. 

Here's the link:
http://ifap.ed.gov/eannouncements/attachments/0623HERAOPGradPLUSAttachARevProc.doc

well, yes...signing the MPN means you agree ot the terms of the loan...ie u accept their loan offer. They would not send u an MPN, which also legally binds them, if they have not approved you for the loan....

This is true. The school may also require you to do some loan counseling through the financial aid Web site before you can get approved for the GradPLUS or any other loan. If you haven't done that yet, it's possible that your loan will just sit forever pending approval.

onepoint

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Re: Grad PLUS
« Reply #164 on: August 01, 2006, 03:09:24 PM »
citibank allows you to pre-screen your eligibility.  i just did that, and was "pre-approved" so i went ahead and filled out the MPN.
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ScoopNY

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Re: Grad PLUS
« Reply #165 on: August 01, 2006, 03:38:27 PM »
My school is a direct lender, so I had to do the credit authorization before I got the MPN and they told me I was approved.
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Re: Grad PLUS
« Reply #166 on: August 01, 2006, 06:22:20 PM »
My school is a direct lender, so I had to do the credit authorization before I got the MPN and they told me I was approved.

See, I am confused about this too. I sent in the credit authorization by fax over a week ago. Never heard anything from anybody. So, I emailed yesterday after getting an email from the finaid Dean saying if we've been denied we'd get an email directly from her, if we'd been approved we could go sign the MPN. Well, I never got an email saying I was denied, but I was still nervous, so I sent their office an email yesterday asking what was up. They said I should've gotten an email from Dept. of Ed saying I was approved. But I never got that. So I went ahead and signed the MPN and figured maybe approval would come after that...But that doesn't sound like what happened in your case, ScoopNY, and we're going to the same school so I don't get it. I think I need to call them this week.

ScoopNY

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Re: Grad PLUS
« Reply #167 on: August 02, 2006, 05:38:58 PM »
Yeah call them. I did get an email saying I was approved for the loan and if I had any questions to call their office. I then got the email to sign the MPN. It looks like they just forgot to send you the approval email. Go call them, they're very helpful.
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Re: Grad PLUS
« Reply #168 on: August 02, 2006, 09:09:35 PM »
Yeah call them. I did get an email saying I was approved for the loan and if I had any questions to call their office. I then got the email to sign the MPN. It looks like they just forgot to send you the approval email. Go call them, they're very helpful.

Everything is fine now. I got a snail mail letter from the Dept. of Ed. today saying I was approved. Whew! I guess I'm really going to law school now!

Marcus2009

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Re: Grad PLUS
« Reply #169 on: August 02, 2006, 10:01:36 PM »
Grad Plus Loan is a female dog.  Interest rate is 8%, and if the econ is doing good for the next year or so, it will likely go up.