Parents Section

Financial Information

Process for Securing a Parent (PLUS) Loan

There are two parts to getting a Parent (PLUS) loan: obtaining a credit check/pre-approval and submitting a signed application. These instructions will help you get through the first part.

Have you already received a credit pre-approval from a lender? This is the first step. If you have received a credit pre-approval, you should continue to apply with that lender. If not, please keep reading…

At FIDM, you have a choice of lenders. You can either choose to borrow from lenders in the Federal Family Education Loan Program (All Student Loan Corp., Chela/NetNet, Sallie Mae, Wachovia) or you can choose to borrow directly from the federal government through the Direct Loan Program. Interest Rates range from 7.9% (Direct Loan Program) to 8.5% (Federal Family Education Loan Program).

Part One

Federal Family Education Loan Program
If you want to borrow from the Federal Family Education Lenders, please use the form titled “PLUS Pre-Approval Request Form (ELM)”. Choose one of the lenders with which FIDM has existing relationships: All Student Loan Corp., Chela/NetNet, Sallie Mae, US Bank, Wachovia.

-OR-

Direct Loan Program
If you want to borrow directly from the federal government through the Direct Loan Program, you must first complete the form titled “Parent Loan (PLUS) Pre-Approval Form - Consent to Obtain Credit Report.”

After completing ONE of these forms, either fax it to Mr. Elm at 213.624.4777 or email it to omendoza@fidm.edu.

Part Two

Once you receive a credit approval, then you are ready to apply. This is the second step to securing a Parent (PLUS)loan.

If you chose a Federal Family Education Loan lender, go to www.fastproducts.org/choice/fidm to complete and submit the application.

If you chose the Direct Loan Program, go to https://dlenote.ed.gov to complete and submit the application.