Step 4 - Your Rights and Responsibilities regarding your Federal PLUS Loan
1. I understand that my student must be enrolled at least half-time each term for this PLUS loan.
2. I understand that all funds will be credited to my student's account first, with any remaining balance refunded to me according to the college's schedule.
3. I understand that I am applying with a PLUS Master Promissory Note for the above student at NCC. I understand that I may receive one or more loans under this MPN and that I must repay such loans.
4. I understand that Federal regulations may require multiple disbursements on this loan.
5. I understand that I may choose to cancel any or all of my loan, even after the loan funds are disbursed. Cancellation of all or a portion of the loan(s) still obligates the student to pay any remaining charges on their account.
6. I authorize NCC to apply the proceeds of the PLUS Loan to my son's/daughter's account to pay any outstanding charges (tuition, fees, books, dorms, supplies, shop tickets, parking tickets).
7. Also, I understand that if my student is not maintaining satisfactory academic progress, future PLUS Loan disbursements will be cancelled.
8. I understand that when requesting a PLUS Loan, the loan information will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system.
By placing your initials here, you acknowledge that you understand your rights and responsibilities.