students at whiteboard

Loan Application Process

Please see Applying for Aid for a description of the overall financial aid application process. Please see the Financing Tip Sheet (PDF) for more information.

Students can find instructions to borrow a Federal Direct Student Loan and Grinnell College & Henry Strong Loan in the Student and Parent Financing section of the online financial aid office (login required).

Note: Loan information for Federal Direct Student Loans (Subsidized, Unsubsidized, and PLUS) will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system.

Student and Parent Loan Instructions

Please visit the online financial aid office (login required) for instructions.

Step 1: Complete the FAFSA

If not already done, your student must complete the Free Application for Federal Student Aid (FAFSA) Grinnell Code: 001868.

Step 2: Request the Loan

Visit Federal Student Aid. The parent borrowing will need to:

  1. Under the ‘Apply for Aid’ menu, select Apply for a PLUS Loan
  2. Log in and go through the Apply for a PLUS Loan steps.

Step 3: PLUS Counseling

Effective March 29, 2015 PLUS borrowers with adverse credit who decide to pursue a PLUS with an endorser or through an appeal to the Department of Education, will be required to complete PLUS Counseling. The PLUS Counseling must be completed within 30 days and will only be valid for the duration of the credit check.

Visit Federal Student Aid. The parent borrowing will need to:

  1. Under the ‘Apply for Aid’ menu, select Complete PLUS Credit Counseling
  2. Log in and go through the PLUS Loan Credit Counseling steps.

Step 4: Master Promissory Note (MPN)

Parents borrowing for new students and first-time parent borrowers of returning students should complete the Federal Direct Parent Loan Master Promissory Note (MPN) online at the link below. You may electronically sign the MPN using your FSA ID. If you previously borrowed a Federal Direct PLUS Loan for the student, you do not need to complete the Master Promissory Note again. The exception is for PLUS borrowers who went through an appeal process due to adverse credit or the use of an endorser.

Visit Federal Student Aid. Customer Service 800-557-7394

The parent borrowing will need to:

  1. Under the ‘Complete Aid Process’ menu, select MPN for Parents
  2. Log in and go through the Submit Master Promissory Note steps.

Please visit the online financial aid office (login required) for instructions.

Students and/or parents should apply for private loans directly with the lender. Grinnell College cannot recommend any lender but provides a list of historical lenders. Students can choose any lender, including one not on the historical lender list.

Before borrowing a private loan, make sure you know and understand your eligibility for federal, state, and institutional loans. Terms and conditions of these options may be more favorable than those offered by private lenders. It is important to understand all terms and conditions before borrowing a private loan.

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