Federal Direct Subsidized and/or Unsubsidized Loan  - Students

Loan Steps for NEW Students:
Log on to MU Online to accept your loans.  Complete a Direct Loan Master Promissory note and Loan Entrance Counseling at www.studentloans.gov.  

For RETURNING Students -
If you had a Federal Direct Loan last year, simply accept your loan(s) on MU Online.  Your MPN and Entrance Counseling are on file.

Federal Perkins Loan - Students:
1. Complete the Perkins Loan Master Promissory Note and Perkins Loan counseling - here is the link: https://www.ecsi.net/prom41/ - if you have any problems completing the MPN, please email naskins@millikin.edu.
 
Federal Direct Parent PLUS Loan
Parent Loans for Undergraduate Students (PLUS) - The PLUS loan requires successful completion of a credit check. The interest rate is 7.9% and there is a 4% origination fee. Repayment begins 60 days after the loan is fully disbursed. In order to process a Federal PLUS Loan, you must complete the FAFSA for your son or daughter. If you have not filed a FAFSA please do so at www.fafsa.gov.

Parent PLUS Loan Steps - for 2011-12 
For parents wishing to apply for the Federal PLUS Loan for 2011-12, please email Nancy Askins - naskins@millikin.edu.  I will e-mail you the paper application.  If you are applying for the 2012-13 Parent PLUS Loan, please follow the steps below and apply online.

Parent PLUS Loan Steps - for 2012-13 
Starting the academic year 2012-13, Millikin will be using the Electronic PLUS Application online at www.studentloans.gov. Credit decisions are received immediately.  If the parent receives a denial on the loan, Millikin will offer the student additional Unsubsidized Direct Loan, based on his/her grade level.  Freshmen, sophomores up to $4000 additional; junior, senior up to $5000 additional for the year. New Parent PLUS borrowers -approved borrowers must continue through the process by completing the PLUS Loan Master Promissory Note (MPN) at www.studentloans.gov.  Returning Parent PLUS borrowers - your MPN is on file. 

Federal Direct Graduate PLUS Loan - The Federal Direct Graduate PLUS loan interest rate is 7.9% and repayment begins 60 days after full disbursement. There is a 4% origination fee assessed on the loan by the Department of Education. You will need to complete the FAFSA to be eligible
Graduate PLUS Loan Steps:
1.  Print - Federal Direct Graduate PLUS Loan Application 2011-12.
     -or-      Federal Direct Graduate PLUS Loan Application 2012-13.
                Changes to Graduate PLUS Loan - 2011-12
                Changes to Graduate PLUS Loan - 2012-13

2.  Complete the Graduate PLUS Loan Application and mail or fax to the address on the form.  You can also scan and email to naskins@millikin.edu.
3.  First time borrowers - complete your Direct Graduate PLUS Loan Master Promissory Note and Entrance Counseling at www.studentloans.gov.

Private/Alternative Educational Loan for students:
The private/alternative loans are commercial educational loans that may be used to close the gap between your financial aid and cost of attendance. Interest rates will vary from lender to lender. The majority of lenders will require a co-signer. We have listed the lenders our students have used over the past three years. You are not limited to these lenders. Personal research is up to each individual or family, as Millikin cannot advise on these products. 

Lenders are listed in Alphabetical Order
Anheuser-Busch Credit Union  
CEFCU
CitiBank - CitiAssist Loan
Citizens Bank - TruFit Student Loan
Commerce Bank
cuStudentLoans - Ed Access Private Student Loan
Discover Student Loan
Fifth Third Bank
Iowa Student Loan
Northwest Federal Credit Union
PNC Bank
Regions Bank
Sallie Mae
Student Loan Finance - iHelp Loan 
Sun Trust Bank
United Federal Credit Union - Disclosure
Wells Fargo

(List updated 04/20/2012)