The Federal PLUS Program is designed to help parents pay the cost of their dependent child's education. PLUS loans are long-term low interest loans available to parents of dependent students who may not qualify for other types of financial assistance.
PLUS loans can help ease the cash-flow difficulties by providing parents a manageable alternative.
The school will complete its section and forward the application to the Corporation. The time varies for processing applications at the Corporation, but it is usually two to three weeks. The new rate will be determined by the Secretary of the Department of Education and will be effective on July 1 of the new calendar year. Parents may borrow up to the cost of education minus other financial aid received for each dependent child who is enrolled in an eligible institution at least half-time. Enrolled or accepted for enrollment on at least a half-time basis in a degree or certificate program of study at an eligible postsecondary institution, and Making satisfactory progress torward educational goals, and In compliance with selective service requirements, and Neither in default on a previous educational loan nor owe a refund to an educational grant program.