Through this program, parents of dependent undergraduate students can borrow up to the annual cost of attendance minus any other financial aid that the student receives for the year. Financial need is not necessary, but the Free Application for Federal Student Aid (FAFSA) is required. Eligibility for a PLUS loan is based on a parent’s creditworthiness and not on financial need. Repayment of PLUS loans begin 60 days following the final disbursement of the loan each year. Parent borrowers may defer repayment while the student is enrolled at least half-time for an additional six months beyond the student’s graduation or when the student drops below half-time enrollment. Deferment periods must be corrected by contact…
HOW TO APPLY FOR A PLUS LOAN
- Submit the FAFSA.
- Complete the Federal Parent PLUS Loan application for the appropriate academic year on studentaid.gov.
- Complete a PLUS Loan Master Promissory Note for parents at studentaid.gov.
LOAN AMOUNT
Parents may borrow up to the annual cost of attendance minus any other financial aid that the student receives for the year.
View Interest Rates for Federal Parent PLUS Loans
ELIGIBILITY REQUIREMENTS
- The student must be enrolled at least half-time (6 hours or more).
- The student must maintain satisfactory academic progress as defined by the Technical College of the Lowcountry Satisfactory Academic Progress Policy.
- The student and borrower must not have defaulted on or owe a refund to any previous student aid program.
- The student and borrower must be U.S. citizens, U.S. nationals or permanent residents.