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Financial Aid

Federal Direct Parent Loan for Undergraduate Students (PLUS)

To receive a Federal Direct PLUS loan, a parent must be a biological or adoptive parent of the student for which the loan is being borrowed. The loan is based on the credit worthiness of the parent. The maximum a parent can borrow is Denison's cost of education minus all financial aid the student receives. The interest on this loan begins to accrue when it is disbursed to the student's account, and continues to accrue until the loan is paid in full.

Repayment

Repayment may be deferred until after the student graduates and has a ten year term.

Interest Rate

New Loans originated after July 1, 2006 will have a fixed interest rate of 7.9%. Parent borrowers are charged a four percent (4%) origination fee that is deducted from the gross loan amount.  A 1.5% fee rebate is offered to all borrowers in anticipation of on time repayment.  The net loan proceeds are credited to the student's account electronically 10 days prior to the beginning of the each semester in 2 equal disbursements.

Master Promissory Note (MPN)

The MPN is a promissory note that can be used to borrow multiple loans for multiple academic years (up to 10 years). While attending Denison University, parents will only need to complete one MPN and this requirement will be for all first-time borrowers of a Federal Direct PLUS Loan who do not have any adverse credit issues. The MPN can be completed on-line here using your Department of Education issued PIN. If you do not have a PIN, you may request one from the official PIN website.