The minimum monthly payment will increase as the cumulative amount borrowed increases. Interested applicants must attend an entrance loan session prior to applying for a loan. The student must be enrolled at least half-time and be meeting satisfactory progress requirements to be eligible for a loan under the Federal Family Education Loan Program. All applicants are required to first complete a free application for Federal Student Aid. All students must attend a pre-loan counseling session prior to submitting their application.
Attendance is required yearly if application is renewed.
Detailed information concerning interest rate, repayment, insurance, origination fee, and other information is included with the loan application. Federal PLUS Loans Federal PLUS Loans are given to parents who want to borrow money to help finance their child's education. These loans are certified by the school and are provided through a lender such as a bank or credit union. PLUS loans have variable interest rates, which are adjusted each year. Parents are subject to a credit check for approval.