PLUS Borrowers [5020]

 

 

 

Module Description

This module shall enable you to add data related to PLUS Borrower Loan Applications. A Loan Application including specific information on the PLUS Borrower must be originated before Direct Loan Parent PLUS Funds are disbursed. Direct Loan Applications are created automatically in TRX 5015-5016 after loan awards are entered in Awarding and Packaging/Aid Awards and Needs TRX 5012. The information on the PLUS Borrower is NOT created automatically, thus should be entered manually after PLUS Loan amounts are entered in Awarding and Packaging/Aid Awards and Needs 5012. The PLUS Borrower should be identified prior to printing the loan applications and prom notes.

 

Note: If the Prom Note wasn’t signed electronically, then after the PLUS Borrower signs the Prom Note, enter and save the date in the “Date Signed Prom Note Box” in this module.

 

Field

Description

Key

Refers to the number sequentially assigned for each entry under the logged in school or campus

Date Signed Promissory Note

Refers to the date the PLUS Borrower signed the Prom Note. Manual entry

Reference Loan Application

Refers to the type of Loan the PLUS Borrower is applying for. Select FFELP or Direct Loan

Application Number

Reference the Application number of the selected Loan. This is automatically assigned by the system after Loan Awarding.

Borrowers Name

Refers to the Name of the PLUS Borrower

Care Of

A “care of” name for the Borrower address, if needed, otherwise leave blank.

SS#

Refers to the SS# of the PLUS Borrower

Address/Phone #/DOB

Refers to the Address, Phone # and DOB of the PLUS Borrower

License #/License State

Refers to the Drivers License # and State where issued of the PLUS Borrower

Citizenship/Alien Registration #

Refers to the PLUS Borrowers type of Citizenship. Enter Alien Registration # if applicable.

Email Address

Refers to the email address for the PLUS Borrower

Employers Name/Address/Phone #

Refers to the PLUS Borrower’s Employers info

Previous Default

Automatically populated from data derived from the ISIR. Refers to the previous Loan History of the PLUS Borrower