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2013-2014 Federal Direct PLUS Loan Request WEB


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2013-2014

Federal Direct Parent PLUS Loan

 

Important Information


Parent PLUS Loan Program Description: The Federal Direct Parent PLUS is a non-need based loan program. For more information visit: http://www2.ed.gov/offices/OSFAP/DirectLoan/pubs/studentpubs.html


Eligibility Criteria: Parent and student must be U.S citizens or eligible non-citizens, NOT in default on a prior educational loan. Parent: Borrows on behalf of dependent student; must meet federally defined creditworthiness standards. Student: Enrolled at least half time (6 credits or more) in degree-seeking program; must be making Satisfactory Academic Progress.

Typically, the Parent PLUS loan will be processed for the Fall and Spring semesters. Therefore, one half of the loan will be disbursed after the 100% refund date of the term and the remaining half will be disbursed after the 100% refund date of the Spring semester.


Credit Review Process: The parent borrower's credit history will be reviewed by the U.S. Department of Education.


Maximum Eligibility Calculation: The cost of attendance minus all other aid (student must have remaining need for the PLUS after all Title IV aid has been awarded). The student will be notified whenever there are changes to his/her awards. It is your responsibility to communicate with us any changes which may affect the Parent PLUS award.


Fees: An origination fee is deducted from each disbursement before crediting to the student's account.