Your student loan experts.
Apply for education financing with Nelnet.

• Subsidized Stafford Loans - With subsidized loans, the federal government subsidizes, or pays, the interest accrued while the student is enrolled in school at least half time and during the first six months after the student graduates or drops below half-time enrollment.
• Unsubsidized Stafford Loans - With unsubsidized loans, the government doesn’t pay the interest for the borrower while he or she is in school as it does with a subsidized loan.

• No principal payments are required while the student is in school at least half time
• With a subsidized loan, interest payments are covered by the U.S. government while the student is enrolled in school at least half time and during the first six months after the student graduates or drops below half-time enrollment
• For unsubsidized loans, students get the option to pay the interest as it accrues while in school or postpone paying the interest until repayment begins, in which case it is capitalized (added to the principal balance)
• There is a six-month grace period after graduation or dropping below half-time enrollment before the borrower begins payments
• Repayment term generally up to 10 years. With an extended payment plan, it's possible for qualifying borrowers to take up to 25 years to repay
• Other flexible repayment plans are available
• There's no pre-payment penalty
• No credit check is required
• No collateral is required
• Almost everyone is eligible for a Stafford loan

• Must be a U.S. citizen/national, a U.S. permanent resident, or an eligible non-citizen
• Must be enrolled or plan to enroll at least half time
• Must be accepted for enrollment or attend a school that participates in the Federal Family Education Loan Program
• Must not be in default on any education loan or owe a refund on an education grant
• Must submit the Free Application For Federal Student Aid (FAFSA)

For subsidized undergraduate Stafford loans disbursed on or after July 1, 2006, interest rates are as follows:

• July 1, 2008, through June 30, 2009 - 6.00%
• July 1, 2009, through June 30, 2010 - 5.60%
• July 1, 2010, through June 30, 2011 - 4.50%
• July 1, 2011, through June 30, 2012 - 3.40%
• On or after July 1, 2012 - 6.80%

Interest rates for graduate and unsubsidized undergraduate Stafford loans disbursed on or after July 1, 2006, remain fixed at 6.80%.

There are limits that depend on what year the borrower is in college, whether he or she is an undergraduate or graduate student, and whether the individual is considered to be a dependent or independent student. These limits are applicable for loans made on or after July 1, 2008.

If borrowers choose to defer payment of principal, interest will continue to accrue. Borrowers have the option to pay interest either monthly or quarterly. Any unpaid interest at the end of the deferment will be added to the principal balance of the loan. Following deferment, repayment of the loan(s) will begin according to the terms of the Promissory Note(s) and repayment agreements(s).

Please download and return the PLUS Deferment Opt-In Form by fax at 1.866.545.9196 or by mail to:

Nelnet
P.O. Box 82565
Lincoln, NE 68501-2565

Parent PLUS loans are available to the parents of dependent, undergraduate students enrolled at least half time. GradPLUS loans are available to graduate or professional students enrolled at least half time. Borrowers must be U.S. citizens or permanent residents and must pass a credit check.

Parents can borrow up to the difference between college costs and other estimated financial aid.

For new PLUS loans disbursed on or after July 1, 2006, the interest rate is 8.50% fixed.

Generally up to 10 years. With an extended payment plan, it's possible for qualifying borrowers to take up to 25 years to repay.

To apply for a PLUS loan for parents, borrowers must be pre-approved. Applicants will be asked to provide personal information and identify the school their child will attend. The online pre-approval and application process varies depending on the school the student will attend.

If a student’s school offers online pre-approval and PLUS applications, please be prepared to provide the following information:

• Current address
• Driver's license state and number
• Reference names and addresses
  

If a student’s school does not participate in online pre-approvals or PLUS applications, call Nelnet toll-free at 1.877.804.3603 to go through the pre-approval process over the phone.

Once pre-approved, parent borrowers will need to fill out a PLUS loan application. This application is available online or can be filled out with Nelnet over the phone by calling toll-free 1.877.804.3603.

Must be a U.S. citizen or permanent resident and a graduate/professional student attending school at least half time. The student must apply for and the school must determine the student's eligibility for the maximum annual subsidized and/or unsubsidized Federal Stafford Loan amount. However, the student need not borrow any amount in the Stafford Loan program in order to qualify for a GradPLUS loan.

Students can borrow up to the difference between college costs and other estimated financial aid.

For new GradPLUS loans disbursed on or after July 1, 2006, the interest rate is 8.50% fixed.

Generally up to 10 years. With an extended payment plan, it's possible for qualifying borrowers to take up to 25 years to repay.

Though many schools offer this new loan option for graduate/professional students, some schools do not. If you are unsure that a certain school offers PLUS loans for graduate/professional students, call Nelnet toll-free at 1.877.804.3603.

To apply for a GradPLUS loan, potential borrowers must be pre-approved, provide personal information, and identify the school they will attend. The online pre-approval and application process varies depending on the school.

If the student’s school offers online pre-approval and PLUS applications, please be prepared to provide the following information:

• Current address
• Driver's license state and number
• Reference names and addresses
  

If the student’s school does not participate in online pre-approvals or PLUS applications, call Nelnet toll-free at 1.877.804.3603 to go through the pre-approval process over the phone.

Once pre-approved, you will need to fill out a GradPLUS loan application online or over the phone toll-free at 1.877.804.3603.

To file the FAFSA, you will need the following items:

• Student and parent tax returns for the previous year (if student is dependent)
• Student and parent Social Security Numbers
• Driver’s license numbers
• Previous year’s W-2s
• Current bank statements
• Investment records
• Alien registration (if applicable)
• Records of any untaxed income for the previous year

NOTE: If you don’t have your tax returns completed, you are encouraged to file the FAFSA using estimates; these figures can be updated on the Student Aid Report at a later date.

STUDENT INFORMATION
A student’s personal and demographic information is used to determine eligibility for
federal financial aid.

STUDENT DEPENDENCE
This section determines if a student is considered dependent or independent and, therefore,
if he or she will need to fill out parents’ information on the FAFSA. If students answer “Yes”
to any of the questions in this section, they won’t have to provide parental information.

PARENT INCOME
If the student is a dependent student, he or she is required to provide information about
parents’ income and assets. If the parents are divorced or legally separated, the student
provides information for the parent with whom he or she lived the longest during the year,
even if the parents filed a joint tax return. If the parent with whom the student currently
lives has remarried, also include the spouse’s income and asset information.

STUDENT INCOME
Do not provide parents’ income information here. If the student is married, both spouses’
income and asset information must be included, regardless of whether the student was
married in the previous year. If the student is divorced, do not include the ex-spouse’s income,
even if a joint tax return was filed.

SCHOOL SELECTION
The student indicates here which schools will receive the FAFSA results; keep in mind that
most schools will not offer a financial aid package until the student has been accepted for
enrollment. We suggest sending FAFSA results to at least three schools, even if the student
hasn’t yet been accepted to all of them.

SIGNATURE
By signing the application, the student agrees, if asked, to provide information that will
verify the accuracy of the completed form.

Myth 1: Financial aid is charity. I should be able to pay for my child’s education.
It’s rare that a family can afford the high cost of college these days. Financial aid is designed
to help families pay for their education when they don’t yet have the means to cover the full
expense. The government provides aid as an investment, not a hand-out—a college degree
usually means that the student will get a higher-paying job, contribute more to society and
pay more taxes over his or her lifetime.

Myth 2: I’ll end up with a huge debt burden.
Though you have debt when you borrow money, education loans are not like borrowing to pay for
a vacation or credit card. Borrowing for education gives a high return—a professional career
for your child. Plus, education loans often carry lower interest rates and fewer penalties than
consumer loans or credit cards.

Myth 3: There’s too much to learn about financial aid—I’ll make a mistake.
Financial aid offices at the schools your child is considering attending, as well as free
college planning resources such as those found at www.nelnet.com, are available to walk
you through the steps of the financial aid process—from filling out the FAFSA through choosing
education loans.

Myth 4: The FAFSA requests too much personal information.
Though you may not want to fill out the pages of paperwork or share your personal financial
information, you’ll find that the forms aren’t as complicated as they seem and the information
requested is identical to what you send to the IRS every year.