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If your credit report indicates you are 90 days or more delinquent on any debt, are in default, have a bankruptcy, foreclosure, repossession, tax lien, wage garnishment or a write-off of any Title IV federal financial aid during the last five years, you will not be eligible to borrow a Grad PLUS Loan.
We recommend that parents calculate their PLUS Loan amount for the entire academic year. If borrowing a full year PLUS Loan, the amount must be equally divided between the fall and spring semesters.
Use Parent PLUS Loans if your credit is less than perfect. Use parent private student loans if you have good credit and can qualify for a lower interest rate. Use parent private student loans if youd prefer a loan with a variable interest rate.
Direct PLUS Loans are federal loans that parents of dependent undergraduate students can use to help pay for college or career school. PLUS loans can help pay for education expenses not covered by other financial aid.
Direct PLUS loans are federal loans that graduate or professional degree students or parents of dependent undergraduate students can use to help pay for education expenses. Direct PLUS loans have a fixed interest rate and are not subsidized, which means that interest accrues while the student is enrolled in school.
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Direct PLUS Loans are unsubsidized loans for the parents of dependent students and for graduate/professional students. PLUS Loans help pay for education expenses up to the cost of attendance minus all other financial assistance.
You may also apply for a Federal Graduate PLUS Loan or Private Loan to help cover your summer costs - both of which require credit approval.
When your parent is completing the online PLUS application for the summer term, be sure your parent selects the 2022-2023 Award Year with a loan period of 6/2023 - 8/2023. 3. Your parent may borrow up to the cost of attendance minus all aid awarded.

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