grad plus approval wording?

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KBicknell
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Joined: Wed Jul 15, 2009 9:40 pm

grad plus approval wording?

Postby KBicknell » Mon Jun 07, 2010 8:07 pm

When you submit the grad plus loan, how are you notified that you are approved or denied? What is the wording for each?

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TruffleMomma
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Re: grad plus approval wording?

Postby TruffleMomma » Tue Jun 08, 2010 11:19 am

I first applied for a grad plus loan this summer. It took just a few days for the response. It said they were pleased to inform me that I had been approved for a grad plus loan in the amount of $_______ (the amount I requested). It said that I should contact my financial aid office for any additional information about disbursement, etc.

No mysterious language on this one. Just Yes, amount, followup. Also there was a blurb about having signed a master promissory note so I could tap the funds again without additional application.

It may be important to note that there were a lot of changes in the Grad Plus loan process- the government and U.S. Direct Loans is taking it back over from the private lenders. This resulted in confusion in the financial aid office of UArk, and maybe at your school too.

Hope that helped.

KBicknell
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Joined: Wed Jul 15, 2009 9:40 pm

Re: grad plus approval wording?

Postby KBicknell » Tue Jun 08, 2010 4:15 pm

Thank you!

KBicknell
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Joined: Wed Jul 15, 2009 9:40 pm

Re: grad plus approval wording?

Postby KBicknell » Wed Jun 09, 2010 3:52 pm

It took just over a week but I received my approval letter.....

"We have reviewed your credit records and we are pleased to inform you that you qualify for a Direct Plus Loan."

shutterbug
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Re: grad plus approval wording?

Postby shutterbug » Wed Jun 09, 2010 3:59 pm

KBicknell wrote:It took just over a week but I received my approval letter.....

"We have reviewed your credit records and we are pleased to inform you that you qualify for a Direct Plus Loan."



An approval letter? Don't they let you know right away online whether you have been approved or not? I got my approval immediately on the screen.

KBicknell
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Joined: Wed Jul 15, 2009 9:40 pm

Re: grad plus approval wording?

Postby KBicknell » Sat Jun 12, 2010 3:41 pm

This is the email I received right after I submitted te application:

"Thank you for submitting a Direct Loan PLUS application. We will send electronic confirmation of your completed application to the following schools within 24 hours."


Then it listed my school.

On the screen it basically just said that I had completed the process.....nothing that was an instant decision. My school yold me that I should have had an instant decision too but I didn't. Maybe they had to look at my apllication closer or something. I am just glad that I am approved.

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SamSeaborn2016
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Re: grad plus approval wording?

Postby SamSeaborn2016 » Sat Jun 12, 2010 4:08 pm

I received an instant approval online and then received a letter less than a week later basically saying the same thing.

apples
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Re: grad plus approval wording?

Postby apples » Sat Jun 19, 2010 2:48 pm

SamSeaborn2016 wrote:I received an instant approval online and then received a letter less than a week later basically saying the same thing.


I applied on June 2 and I haven't gotten any word since. I have good credit. Should I be concerned? I'm waiting for a letter by mail, right?

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SamSeaborn2016
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Re: grad plus approval wording?

Postby SamSeaborn2016 » Sat Jun 19, 2010 3:13 pm

apples wrote:
SamSeaborn2016 wrote:I received an instant approval online and then received a letter less than a week later basically saying the same thing.


I applied on June 2 and I haven't gotten any word since. I have good credit. Should I be concerned? I'm waiting for a letter by mail, right?



I would be. It's possible you didn't OK the final page for processing but you may want to log in and see where in the process your loan request is. If there is no apparent record for it, I would call on Monday.

KBicknell
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Re: grad plus approval wording?

Postby KBicknell » Sun Jun 20, 2010 5:18 pm

Did you get an email confirming your application? If so, call or email them to ask for the status.

apples
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Re: grad plus approval wording?

Postby apples » Sun Jun 20, 2010 7:39 pm

KBicknell wrote:Did you get an email confirming your application? If so, call or email them to ask for the status.


Hmm. I never got a confirmation email but when I log in to studentloans.gov, they list it is a completed application. I guess I'll have to call tomorrow...

KBicknell
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Re: grad plus approval wording?

Postby KBicknell » Sun Jun 20, 2010 8:28 pm

Just give them a call. I had to call about a technical issue with the website and they were very nice on the phone.




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