Federal Direct Parent Loans (PLUS)

<strong>Federal Direct Parent Loans (PLUS)</strong>

  • PLUS loans are federal loans that moms and dads of reliant undergraduate pupils can make an application for.
  • PLUS loans are not granted centered on student’s economic need.
  • PLUS loans are lent through the U.S. Department of Education.

Borrowing Limitations:

  • Moms and dads may borrow as much as the expense of attendance minus any kind of economic aid gotten due to their reliant child.

How exactly to Apply for a PLUS Loan:

  • Dependent students of this moms and dads borrowing the PLUS loan must finish the FAFSA.
  • Borrowers will have to finish the Parent PLUS loan application at studentloans.gov. Moms and dad will log in because of the parent’s FAFSA password and username.
  • PLUS application for the loan email address details are provided for TTC for certification within 24-48 hours.
  • If authorized, the moms and dad borrower must sign a primary PLUS Loan Master Promissory Note (MPN).
  • Pupils would be notified of the prize through their my. Tridenttech.edu e-mail.

Federal PLUS Loan Eligibility:

  • Borrower should be the moms and dad (biological, adoptive or a step-parent if included from the FAFSA) of a reliant student that is undergraduate.
  • Borrower should never have a credit history that is adverse.
  • The pupil is enrolled as a regular pupil in a Title IV-eligible system.
  • The pupil is signed up for at the very least 6 credit hours.
  • The student is a U.S. Citizen or qualified non-citizen.
  • The pupil fulfills satisfactory progress that is academic doing their system. TTC’s Satisfactory Academic Progress (SAP) policy
  • The pupil just isn’t in standard for a Title IV loan gotten at any organization.
  • The pupil has not yet met or surpassed yearly and/or aggregate loan limitations.
  • The student just isn’t simultaneously getting Title IV educational funding from another institution of degree.
  • The student has not yet met or exceeded Pell life time eligibility restrictions. Continue reading Federal Direct Parent Loans (PLUS)