PLUS loans for parents of college students

The PLUS loans for college have interest rates low to medium. Parents of undergraduate students can apply for PLUS loans to help pay college costs that financial assistance does not cover.

PLUS loans can be direct, which means that funds from the Department of Education, or the program may be Federal Family Education Loan (FFEL - Federal Family Education Loan Program ), which are offered through a bank or credit. Each university decides which program is involved.

Am I eligible?
You may qualify if:
You and your son are U.S. citizens or authorized immigrant
Your son is studying at least half-time at a licensed or community college ( community college )
Reviewing your credit is approved
You are up with the payments of your loan

How much I can borrow?
You might approve the loan for the total amount of college expenses minus the amount of financial assistance that your child has already received.

How I can use the money?
You can use the money to pay for any educational expense, including tuition, food and lodging.

When should I start paying the loan?
You can start to repay the loan after 60 days of receipt, or you can wait 6 months after your child graduates or stop taking classes.

How I can apply?
First, you must complete the application FAFSA . Then contact the financial aid office of the college or university your child to find out what to do to apply for federal PLUS loan.


Thanks for visiting Latest Insurance and Loan Information