Parents: We’ve compiled some basic information that is particularly relevant to you as you navigate the Financial Aid process, though you are always welcome to browse our site to find additional or more specific information.
Is Parent Information Required on the FAFSA?
Whether or not parent information is required on the Free Application for Student Aid (FAFSA) depends on whether your student is considered dependent or independent for Financial Aid purposes, which may be different than for tax-filing purposes.
You and your student can utilize the dependency flowchart to determine if parent information is required on the student’s FAFSA. If you still have questions, more information can be found on the dependency section of the Student Aid website or through our office.
Parent Access to Student's Financial Aid Information
Release of Financial Aid Information- To release student information to another person (including parents), the student must authorize release by completing a release form.
- 2023-2024 Release of Financial Aid Information (for Fall 2023, Spring 2024, and Summer 2024)
A release form must be completed for each year information is requested.
Parent information to complete the FAFSA
We encourage the use of the Internal Revenue Service (IRS) Data Retrieval Tool when
completing the FAFSA. If you do not use the Data Retrieval, you may be asked to provide copies
of your federal tax transcript (not Tax Return). If you cannot use the Data Retrieval tool, use the
information on the tax return for the requested year.
Financial Aid Disbursement
Once a student is awarded financial aid, they must access MyISU to actively select disbursement options.
All federal aid eligibility criteria must be met for financial aid to be credited to a student account.
All financial aid awards, except Work-Study, are applied to your student’s university account. The earliest aid can be credited toward student fees is 10 days prior to your first day of class (5 days prior to summer classes).
Any residual funds will be disbursed either by direct deposit to a bank of your choice or by check mailed to your mailing address as reported on MyISU. These funds are disbursed by the Student Financial Services Office at 282-3000. For additional instructions, see fee payment information from Financial Services and the User's Guide to MyISU for fee payment information.
If the FAFSA, all required documents, and appeals have been received in the Financial Aid Office by late July, financial aid will be processed before the Fall semester fee payment deadline.
Questions about fee charges should be directed to Student Financial Services at (208) 282-2900 or stop in at the Student Financial Services Office in Administration Building #10- Third Floor.
Parent PLUS Loans
Parents of dependent undergraduate students enrolled at least half-time (6 credits) may receive a Parent PLUS Loan for undergraduate students.
Eligibility is not based on financial need, but approval is dependent on the parent's credit history.
The loans are made regardless of income level and are offered through the Direct Loan program.
PLUS Loans through the Direct Loan program have a fixed interest rate set by the U.S. Government.
PLUS Loan Plain Language Disclosure Information is available for you to review.
2023-2024 Parent PLUS Loan Application
- Parents must complete a Parent PLUS Loan Application and return it to the ISU Financial Aid Office.
- Be sure to review the section on the application that releases PLUS funds.
- Send the completed application to the Office of Financial Aid address listed on top of the form.
After a federal credit check, you will be notified of the outcome by the federal processor.
If the Federal Direct PLUS is approved, a Master Promissory Note (MPN) must be signed by the parent.
- In order to complete the electronic MPN, an FSA ID is required.
- This FSA ID is the same one used to sign the online FAFSA. You can retrieve or create an FSA ID. It may take 3 business days before the FSA ID is activated.
- Using the FSA ID you created, go to the Master Promissory Note (MPN). You will chose "Complete New MPN for Parent PLUS Loans" at bottom of page. Once the note has been completed, our office will receive the information in a few days and continue processing the loan.
Proof of completion will be received by the ISU Financial Aid Office in mid-July.
- If you have completed Entrance Counseling and your Promissory Note but the requirement is marked incomplete on MyISU, this will change in mid-July when proof of completion is received by our office.
Option if Parent Denied PLUS
If the parent is denied, it is possible for the student to apply for additional Federal Direct Unsubsidized Loan instead. The following Direct Unsubsidized Loan limits may be added to the students borrower's combined Direct Subsidized and Unsubsidized loan limits