Loan Application Instructions

Direct Subsidized/Direct Unsubsidized (Undergraduate Students)

1. Log into Banner Self Service.
2. Click on the "Resources/Additional Information" tab to answer the Title IV Authorization questions.
3. Accept (or decline) your loans through the "Accept Award Offer" tab.
4. Go to studentaid.gov and log in using your FSA ID.
5. Complete Entrance Counseling.
6. Complete Master Promissory Note for Subsidized/Unsubsidized.
   • Be prepared to provide contact information for two references.

Grad PLUS Loan (Graduate Students)

1. If offered on your award screen, accept (or decline) your Grad PLUS Loan in Banner Self Service.
2. If not offered on your award screen and you wish to borrow this loan as a supplement to the Direct Unsubsidized Loan, you will see an "Additional Eligibility" message on your award screen that will indicate the maximum eligibility amount for this loan.
3. Go to studentaid.gov and log in using your FSA ID.
4. Complete Entrance Counseling (All students must complete entrance counseling, even if they have borrowed loans in the past).
5. Select "Apply for a Grad PLUS Loan" and complete the application information that is required for the PLUS credit approval.
   • The Department of Education will perform your credit check and will provide you with the results.
   • If your PLUS Loan is denied, you may have the option to appeal the credit decision or to add an endorser to your PLUS loan. You can select either of these options by going to studentaid.gov, sign in and select the option from the list on the homepage.
6. Complete the Master Promissory Note for the Grad PLUS Loan.

Parent PLUS Loan (Undergraduate Students)

It is the student's responsibility to communicate with the parent the amount of PLUS Loan eligibility. This amount can be found in the award information in Banner Self Service. This amount is the student's cost of attendance minus other aid awarded. It is best to consider borrowing the amount needed for the full academic year upfront, as opposed to one semester at a time.

1. Go to studentaid.gov and log in using the parent's FSA ID (This is the same ID used to sign the FAFSA electronically).
2. Select "Apply for a PLUS Loan" and complete the application information that is required for the PLUS credit approval.
   • The Department of Education will perform your credit check and will provide you with the results.
   • If your PLUS Loan is denied, you may have the option to appeal the credit decision or to add an endorser to your PLUS Loan. You can select either of these options by going to studentaid.gov, sign in and select the option from the list on the homepage. If credit appeal or an endorser is not an option, please have your student contact the Financial Aid Office at 757-221-2420 or aid@wm.edu to discuss the possibility of an extended unsubsidized loan.
3. Complete Master Promissory Note for the Parent PLUS Loan.

Direct Subsidized/Direct Unsubsidized

1. Log into Banner Self Service.
2. Click on the "Resources/Additional Information" tab to answer the Title IV Authorization questions (as described above).
3. Accept (or decline) your loans through the "Accept Award Offer" tab.

Grad PLUS Loan

1. Log into studentaid.gov.
2. Complete the Grad PLUS Loan application by selecting "Apply for a Grad PLUS Loan" if you wish to borrow this loan type, and it is not automatically offered on your award screen in Banner Self-Service.
3. You must sign a new promissory note for this loan ONLY if you have an endorser or have had an endorser on your previous Grad PLUS loan. To sign a new promissory note, please go to studentaid.gov.

Parent PLUS Loan

1. Please log in to studentaid.gov.
2. Complete the PLUS Loan application by selecting "Apply for a PLUS Loan."
3. It is not necessary to sign a new promissory note if you have borrowed a Parent PLUS Loan in the past. The only exception to this is for those with an endorser on their PLUS loan. If you have an endorser or have had one on a previous PLUS loan, you will need to sign a new promissory note for any new PLUS loan. If you need to sign a new promissory note, please do so at studentaid.gov.