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If you get an adverse credit result, you can still qualify for a PLUS loan if you get an endorser. To go this route, youll also have to complete PLUS Credit Counseling.
Students whose parents have been denied can borrow up to $9,500 to $12,500 per year (depending on the students year in school) with a maximum lifetime borrowing limit of $57,500.
If your Parent PLUS Loan was rejected, it may be because you dont meet the credit requirements. PLUS borrowers cant have an adverse credit history, such as being at least 90 days overdue in making a debt payment or completing bankruptcy in the last five years.
If youve been denied a Parent PLUS Loan because of an adverse action from a delinquent account, you can fix this by making payments to bring that account current. Once you do that you can either re-apply for the Parent PLUS Loan or explain it as an extenuating circumstance.
You cannot reduce or decline your Federal Direct Parent PLUS Loan on myUCF. Please complete the online Loan Adjustment Form from the Financial Aid Forms website.
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No, not everyone gets approved for a Parent PLUS Loan. In addition to being the parent of an undergraduate student and meeting basic eligibility requirements, the U.S. Department of Education requires that parent borrowers not have an adverse credit history in order to borrow a PLUS Loan.
A parent may re-apply for a subsequent academic year and if approved, the student will be eligible for a Parent PLUS Loan and not additional unsubsidized loans in the subsequent academic year.

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