Parent FAQ - A Must Read
How do I determine if my child is financially cleared to move into their room and start classes?
You must have an APPROVED PLUS LOAN (i.e. you must have received an Approved credit decision from the U.S. Department of Education), in combination with your child's accepted financial aid, in an amount equal to or greater than your child's billable expenses. You must receive a financial clearance notice from the Office of Student Accounts, not the Office of Financial Aid.
Is accepting the PLUS Loan the same as becoming approved?
No. Accepting the PLUS Loan is the first step, followed by completing a credit check, and then signing the master promissory note (MPN).
What is the interest rate and fee on new loans first disbursed on or after July 1, 2014?
Type Parent PLUS Interest Fees Grad Interest Fees PLUS 7.21% 4.288% 7.21% 4.288%
What are the eligibility requirements for the PLUS Loan?
PLUS Loan applicants must meet the general eligibility requirements for federal student aid. If a parent is borrowing on behalf of a dependent undergraduate student, the student must also meet these general eligibility requirements. For example, the PLUS applicant and the student must:
- Be a United States citizen or eligible noncitizen,
- Not be in default on a federal student loan, and
- Not owe a refund on a federal education grant
Are there any other requirements for the PLUS Loan eligibility?
A PLUS Loan applicant should not have an adverse credit history. (A credit check will be conducted.) If a PLUS Loan applicant does have an adverse credit history, he or she might still be able to receive a loan by documenting existing extenuating circumstances or by obtaining an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the loan if the borrower fails to do so.
Must I complete the FAFSA each year in order to apply for the PLUS Loan?
Yes. Student eligibility regulations require for parents to complete the FAFSA each year in order to be considered for the PLUS.
What is the process for the PLUS loan?
Accept the loan on HU Net and complete the PLUS credit application and
master promissory note (MPN) on www.studentloans.gov
When does repayment begin?
Generally, the PLUS loan goes into repayment 60 days after the final disbursement, unless the borrower requests a deferment with the U.S. Department of Education (or Servicers).
What options are available if the PLUS loan is denied?
Borrowers can seek an appeal with U.S. Department of Education, secure a credit worthy endorser, or student may qualify for additional unsubsidized and needs to submit request in writing. After a PLUS Loan is denied, you should first review the information regarding the loan sent to you from Direct Loans. If you have the option to appeal or to get an endorser, you may choose to do so at this time. If the initial denial remains, the student may submit a written request for an additional unsubsidized loan in the amount of $4,000 or $5,000 depending on the number of credit hours they have on record. If there is still a remaining balance, the parent may choose a private loan or contact our Business Office regarding the Special Deferred Payment Plan.
If you have been denied the Parent (or Graduate) PLUS Loan due to adverse credit history, you may be able to request reconsideration of the denial decision. Reconsideration may be an option if you have received communication from the U.S. Department of Education along with the denial decision stating this option is available to you. If you have received this communication, you should contact the Student Loan Support Center at 1-800-557-7394 to request reconsideration.
Why am I unable to see if my PLUS Loan was approved after completing the Direct PLUS Master Promissory Note (MPN)?
Merely completing the MPN does not automatically place the PLUS Loan in approved status. The PLUS Loan requires the application procedure to be completed onwww.studentloans.gov. The full procedure for applying for the PLUS loan consists of a credit check and a completed MPN.
Do I have to borrow the full amount offered?
No. Should you require a lesser amount, please contact the Financial Aid Office.
What if I decide to cancel the loan?
We prefer that you put your cancellation request in writing and strongly recommend for you to submit to it us prior to the start of classes.
What is the best way to contact the Office of Financial Aid?
Please use our contact form.
How does the Office of Financial Aid send correspondence, like verification notices to students?
The Financial Aid Office sends most correspondence to students via the student HU Net account. Students may access HU Net using: https://mycampus.hamptonu.edu/web/mycampus/home.
When should my child and I complete the FAFSA?
Students and parents need to complete the FAFSA after January 2nd each academic year.
How often should my child check his HU Net account online?
Once given access, students should check their HU Net account quite frequently to ensure there are no unmet requirements. At a minimum, students should check before the beginning and before the end of each semester enrolled.
How often should my child and I review the Financial Aid Office's webpage?
Students and parents need to review the Financial Aid webpage throughout each academic year for all necessary information. The webpage provides ample information, and adjoining links covering most areas.
How often should my child visit their Financial Aid Advisor?
We strongly recommend for students to visit their Financial Aid Advisor multiple times throughout the academic year and prior to leaving campus before the end of the Spring semester.
How do become aware of important financial aid dates?
Please visit our important financial aid dates page.
How do I learn my child's balance?
If your child owes a balance, the Office of Student Accounts will send a bill each month to the permanent address on file with the Office of the Registrar. Your child may access his or her student account via HU Net using: https://mycampus.hamptonu.edu/web/mycampus/home in order to learn their balance. If you have specific questions, you may contact their offices at: (757) 727-5661 or (800) 624-3327.
Will HU accept notice of my child's external scholarship as proof of payment for financial clearance?
Student Accounts normally requires the actual award funds to be received prior to considering financial clearance. You must contact their office for more information: (757) 727-5661 or (800) 624-3327.
When can my child expect for the ROTC tuition and/or comprehensive fee scholarship to be applied his or her student account?
Students must contact the Student Accounts Office to learn when ROTC will be invoiced each semester.
Why has my child's Admissions' scholarship been reduced after receiving another tuition scholarship?
The total financial package (all grants, scholarships, loans and other assistance), regardless of source, must not exceed the direct cost (tuition, fees, room and board) of education at the University for one academic year. In such cases, the scholarship award will be reduced appropriately. Please refer to your child's Admissions' Scholarship Agreement for more information.
Why has my federal loan been reduced after I received a new scholarship?
The FAO must ensure that financial packages of federal student aid recipients do not exceed the student's cost of attendance (COA) and/or financial need in the case of a student who also has a Federal Subsidized Loan, which among other requirements, requires a recipient to have a financial aid package with financial need (Formula: COA - Expected Family Contribution - Financial Aid Accepted = Financial Need).