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Administrator Guide
Last Updated: 2023-06-23
Create PLUS Loan Applications Manually

Create PLUS Loan Applications Manually

Security:
Manage: Student Loan Application
 domain in the Financial Aid functional area.
You can manually create PLUS loan applications when you:
  • Use a physical application process at your institution and need to transfer the information into Workday.
  • Don't use the Workday integration for student loan applications.
For Parent PLUS loans, parents must create an application online through the U.S. Department of Education (ED) to approve their credit.
  1. Access the
    Create PLUS Loan Application
     task.
  2. As you complete the task using the information on the student's physical loan application, consider:
    Option Description
    PLUS Maximum Loan Amount Requested
    To request an amount other than the maximum loan amount, clear the check box and enter a specific amount in the
    Loan Amount Requested
     field.
    Unknown Loan Amount
    Workday doesn't package the PLUS loan when you select this check box. You can use this field in reports to identify borrowers and follow up about applying for specific loan amounts.
  3. As you complete the
    Credit Information
     section, consider:
    Option Description
    Credit Status
    Workday only packages PLUS loans with a credit status of
    Approved
    .
    Default Overpay Code
    When you configure the
    PLUS Loan Requirements
     eligibility condition on the
    Create Student Award Item
     task, Workday only disburses PLUS loan awards when the default overpay code is either:
    • No
    • School Override
    Credit Requirements Met
    When you configure the
    PLUS Loan Requirements
     eligibility condition on the
    Create Student Award Item
     task, Workday only disburses PLUS loan awards when you select this check box.
    Endorser Approved
    When you select this check box, Workday packages the student for the endorser amount.
When you complete the loan application, the Common Origination and Disbursement (COD) system verifies:
  • The validity of the application.
  • The financial aid amount awarded to the student.
Run the financial aid packaging process to:
  • Link PLUS loan applications to PLUS loan awards.
  • Package students with the credit-approved loan amounts.