How do I apply for a Federal Direct Parent PLUS Loan

To apply for a Federal Direct Parent PLUS Loan for a student attending the School of the Art Institute of Chicago (SAIC), the parent borrower should complete the following steps:

1. Complete the FAFSA
   • The student must have a FAFSA on file and be eligible for federal financial aid before a Parent PLUS Loan can be processed.
2. Complete the Parent PLUS Loan Request
   • The parent (not the student) should log in to StudentAid.gov using their own FSA ID and complete the Parent PLUS Loan application:
     • Apply for a Parent PLUS Loan
   • The application includes a credit check.
3. Complete the Master Promissory Note (MPN)
   • If the loan is approved, the parent must complete the Parent PLUS Loan Master Promissory Note:
     • Complete the Parent PLUS Loan MPN
4. Additional Counseling (if required)
   • If the parent is approved through an endorser or after appealing a credit denial, federal PLUS Counseling is also required before the loan can be disbursed.

Once these steps are completed, SAIC will receive the application electronically, certify the loan, and apply the funds to the student's account if all eligibility requirements have been met.

If you have questions about the process or the amount to borrow, you can contact SAIC Student Financial Services at 312-629-6600 or saic.sfs@saic.edu