<p>Does anyone have experience with PLUS loans not coming through by the bill due date?</p>
<p>The financial aid office is saying not to worry about it, (especially considering the change to Federal Direct this year), that if you've done your required paperwork and the funds don't come through in time, there's a 3-4 week grace period before late fees accrue, and even then, if it's a hold up on their end or on the government's end, late fees would be waived/reversed.</p>
<p>They also said that there won't be any negative "side effects" for the student if the PLUS loans are delayed - their GWorld cards aren't cancelled, their registration isn't affected, etc.</p>
<p>At this point my D's records say that the PLUS Loan Data Form has been received, but not yet processed. Is everyone at that same stage or has anyone moved passed it yet?</p>
<p>Can anyone share any experiences?</p>
<p>Thank you!</p>
<p>I’m a GW graduate student borrowing a graduate PLUS loan, so I’m not sure if it is the same process as a parent PLUS loan for undergraduates, but here is what the GW financial aid office told me about PLUS loans.</p>
<p>I called the FA office in regards to my loans about a week ago, as they still had not even calculated my financial aid award despite it being mid-August and despite me having signed my promissory notes in early June. Like you, I was told then not to worry about the funds being received by the first day of classes, and that there might be a possible delay due to the federal changes in the loan process and all that. They also said that I could basically go the entire semester without paying my bill, and that a hold on my registration wouldn’t occur unless the bill still wasn’t paid two months in to the semester (November). </p>
<p>So, I went down to the FA office today (I already moved into GW), and spoke with someone who told me that the loans should be credited to my student account on the first day of classes, and that any excess funds will be available in the form of a check at the financial aid office on September 3rd (I borrowed more for living expenses since I am a graduate student and will be funding my education entirely through loans).</p>
<p>In regards to your daughter’s loans, I’m assuming the “received, but not yet processed” message was indicated on BannerWeb? Mine said the same thing for more than two months, until this past week, when it was updated to reflect the completion of my entrance counseling and promissory notes. If the parent PLUS and graduate PLUS processes are the same, then I’m thinking yours should be updated within the next few days. </p>
<p>I guess all I can say is don’t worry! Everything will work out…it seems like the FA office is especially slow this year. I hope my experiences helped ease your nerves a little :-)</p>
<p>PLUS Loan finally “awarded” on GW’s FA Website as of today - same location where you check your “other” FA awards. Site states “promissary note” not yet signed. Of course I signed the eMPN for the PLUS loan prior. FA is now in the process of “downloading the eMPN’s” for all student PLUS Loans.</p>
<p>Better late than never - hopefully next year won’t be so painful!</p>
<p>CJ</p>
<p>On the page that is titled: Eligibility Requirements for 2010-2011 Financial Aid Year, my D’s says:
Plus Loan Data Form Requirement recd and satisfied 08/26/10<br>
Change in Status Request Received not yet reviewed 08/02/10 </p>
<p>No mention of the eMPN for PLUS tho. </p>
<p>Progress is slow, but happening!</p>