How do I apply for a Parent Plus Loan?

For pre-approval to determine eligibility prior to completing an application, parents have the option to call  1-800-458-4011. 

To secure the Parent Plus loan: 

 Click here to complete the Parent Plus application. Borrowers have the right to select a lender of their choice. 

All steps should be completed 30 days prior to start of term in order to allow adequate processing time.

What is a Parent Plus Loan?

A parent of a dependent student may help finance their child's educational expenses by borrowing through the Parent Plus Loan program.  The parent is actually applying for and is responsible for the repayment obligations.

How much can I borrow?

A parent may borrow an amount up to the full cost of attendance (as determined by the school) minus any other financial aid awarded to the student.  

What happens if the Parent Plus Loan is denied?

If the parent is denied, the dependent student will then automatically become eligible for the additional Unsubsidized Stafford loan appropriate for their college grade level (freshmen & sophomores - $4,000; junior & seniors - $5,000). 

When and how will I receive the loan funds?

PC will receive your loan funds electronically from the lender in two equal disbursements, half at the beginning of each semester.  The Financial Aid Office will process the funds and will send them to the Business Office to be applied to your son or daughter's account.  You will specify on the Loan Amount Request Form what you would like done with fund remaining after all expenses are covered.

Which is a better loan option a Parent Plus Loan or an alternative loan?

Click here to view the pros and cons of the Parent Plus Loan versus and alternative loan.

If you have additional questions regarding the Parent Plus Loan process, feel free to contact us at 800-437-6060, x429 or pcaid@presentation.edu.

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