Federal Parent Loans (PLUS)
Parents may borrow up to the full cost of attendance - as established for students by the university - minus any financial assistance the student receives. Borrowers must be US citizens or permanent residents and demonstrate creditworthiness for loan approval. Principal and/or interest payments may be deferred until after the student is not enrolled or is enrolled less than half-time.
To apply for a Parent Plus Loan complete the next steps:
Step 1: Log-in to studentloans.gov and apply for the loan. You will receive a notification via-e-mail indicating the approval or denial of your parent loan.
Step 2: If your parent loan was approved, sign the Master Promissory Note (MPN).
Step 3: If your loan is denied, contact our office for additional information on other loan options available.
Application- You can apply and complete a PLUS Loan Request beginning July 1, 2016.
|Parent Plus Loan Terms||
Receiving Loan Funds - The student must have a permanent address in MyUCSC. The permanent address must be set to “active” before the loan will disburse. To avoid delays, be sure this address is current and active. Loan funds are credited to the student’s billing account. Any PLUS funds remaining after charges are paid will be given to the student unless the parent borrower requests the excess funds. This request is made when the application is submitted. If the student is on an Education Abroad Program (EAP), the funds will always go to the parent.
Federal Plus Loan & Private Student Loan Comparison Chart - Loans offer you the opportunity to cover the cost of your educational expenses. It is important to explore all options and find what works best for you and your family. The Federal Plus Loan & Private Student Loan Comparison Chart provides you with additional information on the differences between the Federal PLUS Loan and Private Student Loan options for those families who demonstrate creditworthiness and wish to explore alternative options that may better suit your family financial situation.