Stafford Loans
Parent PLUS Loans
You must complete the Free Application for Federal Student Aid (FAFSA) each year you need financial aid. Don’t provide your e-mail address on the FAFSA. If you do, you will receive a SAR that acknowledges you received a FAFSA. International schools can’t use this document to certify Stafford Loan funds.
You must complete all application paperwork and respond to correspondence as quickly as possible. The international school approval process relies on international mail. Distances between the U.S. and your school will add several days to any mail exchanges. Get an e-mail address of the school official handling your loan. This may be the most efficient way to communicate with the school to get your questions answered.
If you’ll be using an international bank, familiarize yourself with its lending practices. Learn about exchange rates and how to withdraw your funds. You may experience delayed access to your funds as well as additional fees. Find out how your school handles U.S. checks. Stafford Loan checks may be disbursed by your lender up to 30 days prior to the start of classes if requested by your school.
Here's a list of documents your school will need to process a Stafford Loan for you.
Federal Student Aid Report (SAR). After your FAFSA is processed, you’ll receive a Federal Student Aid Report (SAR). Typically, SAR information isn't automatically sent to foreign schools, as it to U.S. schools. Instead, you’re responsible for providing your school with an official SAR. Please note that a SAR received via e-mail may not be valid for international schools to determine your eligibility for aid. If you need another paper SAR, contact the National Processing Center at 800.433.3243 and follow the automated instructions. Make a photocopy of the SAR for your records, then mail all pages of the original SAR to the school along with your loan application Master Promissory Note and school certification form.
Master Promissory Note (MPN). You must complete the Federal Stafford Loan MPN. Be sure to sign and date the form and keep your copy for your records.
School Certification Form. An authorized official of your school must complete the Federal Stafford Loan School Certification form to certify your eligibility for the loan.
Work with your school throughout the application process. Keep in mind that you may be one of only a few U.S. citizens attending the school. So follow up with your school administrators to ensure they understand how important processing the loan is to your attendance.
Here is how the loan application process works:
Documents Returned to NELA. After certifying your eligibility, your school must return the MPN, the School Certification form and a copy of the SAR to NELA at the address below. If these documents have been returned to you, please send them on to us. We can’t process your loan until we receive these documents.
Guarantee Review and Lender Approval. After receiving all documents needed for loan approval, NELA will work with your lender for final approval. The approval process usually takes one week to 10 days after all documents are received.
Loan Check Disbursement. Your school will determine when your funds will be disbursed. The earliest funds can be disbursed is 30 days prior to the start of your academic term. Depending on the school you’ve chosen, your disbursement checks may be mailed to either your permanent home address or to the school’s financial aid office
top^
This information will help you complete a PLUS Loan Application and Master Promissory Note (MPN) to be used by your son or daughter to cover education costs at an international school approved for program participation by the U.S. Department of Education. The amount you may borrow is based on the difference between the cost of your son or daughter’s education minus the amount of any other financial aid (including Stafford Loans) received.
You must complete all application paperwork and respond to correspondence as quickly as possible. The international school approval process relies on international mail. Distances between the U.S. and your school will add several days to any mail exchanges. Get an e-mail address of the school official handling your loan. This may be the most efficient way to communicate with the school to get your questions answered.
Federal regulations require that all PLUS Loan checks be made co-payable to the school and the parent borrower. Because the check must be signed by the parent and school official, you may want to contact the school and make plans to handle the check endorsement, deposit and monetary exchange rates.
Communicate with your son or daughter during the loan process. If your son or daughter is also taking out a Stafford Loan, you may want to coordinate the application process so the PLUS and Stafford MPNs are mailed together to the school for certification. The school will usually mail both of the completed forms to NELA.
Be ready for the unexpected. Problems occur and forms get lost in the mail. Carefully read everything and keep copies. Delays may result from international schools unfamiliarity with processing U.S. federal student loans. Begin this process early so there is plenty of time to work through problems or delays.
Here's a list of documents your school will need to process a PLUS Loan for you.
PLUS Loan Application and Master Promissory Note (MPN). You must complete the Federal PLUS Loan Application and MPN. Be sure to sign and date the form and keep your copy for your records. Any missing information could cause delays in processing the loan.
PLUS Loan Information and School Certification Form. An authorized official at your child's school must complete the Federal PLUS Loan MPN and the School Certification form.
Keep in mind that your son or daughter may be one of only a few U.S. citizens attending the international school. So follow up with administrators of your child's school to ensure they understand how important processing the loan is to the student’s attendance.
Here is how the loan application process works:
Documents Returned to NELA. After certifying your eligibility, the school must return the MPN and the School Certification form to NELA at the address below. If they’re returned to you, please send them on to us. We can’t process your loan until we get them.
Guarantee Review and Lender Approval. After receiving all documents needed for loan approval, NELA will work with your lender for final approval. The approval process usually takes one week to 10 days after all documents are received.
Loan Check Disbursement. Disbursement checks can be mailed to your home address or to the school. If specific mailing instructions aren’t received with your loan packet, the checks will be mailed to the school. PLUS Loan checks are made co-payable to you and the school and both of you must endorse the check.
top^
Address and Contact Information
NELA
Customer Service
190 Queen Anne Ave N, Suite 300
Seattle, WA 98109
USA
800.979.4441
206.461.5470
Fax: 206.461.5422
loaninfo@nela.net