Increase PLUS Loan Amounts
Security:
Manage: Student Loan Application
domain in the Financial Aid functional area.You can manually increase the amount of an eligible PLUS loan after disbursement if a parent or graduate student needs assistance due to financial urgency or a technical issue with submitting their new loan application. Note that increasing the loan amount creates a new PLUS loan application.
- Access the student’sLoan Applicationsreport from their Financial Aid profile group.
- From the related actions menu of theLoan Applicationcolumn, select .
- On theIncrease or Decrease PLUS Loan Applicationpage, enter an increased amount that matches COD’s records in theLoan Amount Requestedfield.
- ForApplication Reason, selectIncrease.
- ForApplication ID, enter a new application ID that aligns with COD for a loan increase.
- ForPLUS Loan Application Submission Date, enter today’s date.
- ClickOK, thenDone.
After need packaging runs, Workday:
- Updates the award with the new loan amount.
- Adds the loan application for the increase to the award.
- Sends the new PLUS loan applications to COD.