What are PLUS Loans?

PLUS loans are federal student loans offered by the government to parents of both undergraduate and post-secondary students and to graduate and professional degree students. This loan is available through the Federal Family Education Loan (FFEL) Program and the William D. Ford Federal Direct Loan (DL) Program.

Application Process

If you are a parent or a student and wish to apply for a PLUS loan under FFEL, you must complete an application form from the school, lender, or the state guaranty agency (you can go online to www.fafsaonline.com)
. The application will be then submitted to the school and forwarded to the lender for evaluation. If you apply for the loan under the DL program, you need to complete the application form along with a promissory note and submit it to the school's financial aid office.

Amount of the College Loan

The cost of attendance minus the amount a student gets from other financial aid, is the amount of loan a parent or graduate student can borrow. If for example the student's cost of attendance is $8,000 and obtains $4,000 from other financial aid resources, the applicant can borrow up to $4,000.


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