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Commonly Asked Questions about Parent plus loan Application Forms

To be eligible for a Direct PLUS Loan for parents, you must be a biological or adoptive parent (or in some cases a stepparent), not have an adverse credit history, and meet the general eligibility requirements for federal student aid (which the child must meet as well). Am I eligible for a parent PLUS loan? | Federal Student Aid studentaid.gov help-center answers article studentaid.gov help-center answers article
PLUS loans. Parent and grad PLUS loans allow you to borrow up to the total cost of attendance, and theres no income limit to qualify. PLUS loans are another type of unsubsidized loan.
How long does processing take? Due to the value of PLUS applications at peak times (particularly summer and the start of the Fall term), PLUS loans can take 4 weeks for processing and for the loan to be posted on the students financial aid summary. Parent PLUS Loans - Office of Financial Aid | CSUF fullerton.edu financialaid parents pare fullerton.edu financialaid parents pare
Completing the Online Application: (Note: The online PLUS application for 2024-2025 should not be submitted before June 1, 2024.) You may apply for a Direct PLUS Loan at .studentaid.gov.
The PLUS Loan Application becomes available by the end of the May prior to the start of fall term, and we recommend all these steps be completed prior to August 1 for the fall term or prior to December 1 for spring term. Federal Direct Parent PLUS Loan Steps and FAQs - UW-Whitewater uww.edu documents financialaid 2223 uww.edu documents financialaid 2223
Eligible parents of eligible dependent undergraduate students should apply for a parent PLUS loan with a Direct PLUS Loan Application. Parents and students cant share the same account username and password (FSA ID). If you dont already have one, you can create an FSA ID.
Only one parent needs to apply for and be denied a PLUS loan. However, if one parent is denied a PLUS loan and the other is approved for a PLUS loan, the student is not eligible for increased Stafford Loan limits.
No minimum credit score is needed to get a parent PLUS loan. Federal loans arent like private parent student loans, which use your credit score to determine whether you qualify and what interest rate youll receive. But parent PLUS loans do have a credit check, and you wont qualify if you have adverse credit history.
The deadline for parent PLUS loan applications varies by institution. The federal deadline for the FAFSA is June 30 of each award year, but many institutions have earlier deadlines. Check with your childs school to see when the deadline for completing a parent PLUS loan is.