Parent Loans - Apply Now!
Parent PLUS loans allow parents or legal guardians of dependent undergraduate students to borrow additional funds when Stafford loan limits are not enough to cover the cost of attendance. Parents or legal guardians must be members of ELFCU and the dependent undergraduate student must be enrolled in school at least half-time in an eligible program. This is a credit based loan.

The Free Application for Federal Student Aid (FAFSA) is always recommended but not always required. Parents or legal guardians will need to verify FAFSA requirements with each individual school. Lets parents borrow for post-secondary education of dependent children.

Graduate/Professional PLUS Loans - Apply Now!
Graduate PLUS loans allow graduate and professional students to borrow additional funds when Stafford loan limits are not enough to cover the cost of attendance. The graduate or professional student must be a member of ELFCU and enrolled in school at least half-time in an eligible program. This is a credit based loan. The FAFSA is required for the Graduate PLUS loan.
 

Features and Benefts for Both PLUS Loans

• Parent PLUS - repayment begins within 60 days of final disbursement or borrowers may apply for deferment until six months after graduation
• Graduate PLUS  - repayment begins six months after graduation
• Loan limit is cost of attendance minus any financial aid recieved
• 8.5% fixed interest rate
• 3% origination fee and 1% federal default fee
• Funds are disbursed directly to the school, less fees
• Check-free Rate Reduction of 25 basis points will be offered if payments made through an automated clearinghouse or ACH

ELFCU Lender Code: 826679
It is important to share our lender code with your school's financial aid office. Your school may provide you with a list of preferred lenders, but you may choose Eli Lilly Federal Credit Union whether we appear on the list or not. Simply indicate on your Master Promissory Note (MPN) our lender information:

Lender Name:  Eli Lilly Federal Credit Union, Indianapolis, IN 46202
Lender Code:   826679

Links of Interest:  

• Student Aid on the Web 
• FastWeb Scholarships
• FAFSA
• FAFSA Completion Tips
• FAFSA On The Phone
• U.S. Department of Education PIN Registration
• Great Lakes Educational Loan Services
• National Student Loan Data System

Additional Information:

• Frequently Asked Questions (FAQs) 
• Glossary 
• High School Planning Guide
• 2009-2010 Quick Reference Guide
• Student Loan Guide

Contact:

Access Your Loan Account Online.  You can check the status of your loan, view your account information and make payments from your bank account 24/7 at www.mygreatlakes.com. After you log in, choose My Loans, then Internet Borrower Inquiry Service to get started. This site offers a variety of tools for calculating the cost of your loan. It's your resource to forms, a glossary of financial aid terms, contact information, and lots of other information to help you manage your loans.