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  • Federal Direct Parent Plus Fall-spring 2012-2013 Loan ...

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M that enables parent of dependent undergraduate students to borrow money for each of their dependent children to pay for the educational expenses. Eligible parents may borrow up to the cost of attendance, for each student, minus other financial aid, annually. Eligibility Requirements: Effective July 1, 2011 in order to receive funds from a PLUS loan disbursement our office must have on file a completed 2012-2013 FAFSA application. Student must be enrolled at least half-time (6 credits) per.

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Completing the Online Application: (Note: The online PLUS application for 2024-2025 should not be submitted before June 1, 2024.) You may apply for a Direct PLUS Loan at .studentaid.gov. If you have problems with the online application you can contact Direct Loan Applicant Services at 1-800-557-7394 for assistance.

Public Service Loan Forgiveness for Parent PLUS Loans Parent borrowers may be eligible for Public Service Loan Forgiveness (PSLF) after making 120 qualifying payments (ten years). Parent PLUS loans are eligible if they are in the Direct Loan program or included in a Federal Direct Consolidation Loan.

Direct PLUS loans are federal loans that graduate or professional degree students or parents of dependent undergraduate students can use to help pay for education expenses. Direct PLUS loans have a fixed interest rate and are not subsidized, which means that interest accrues while the student is enrolled in school.

Though you will have to apply for a new parent PLUS loan each year, it's possible to receive more than one loan under the Master Promissory Note you sign. In some cases, they are good for up to 10 years.

A loan period is the amount of time that a borrower will have to repay their loan. It will be determined by factoring in the minimum and maximum payment, interest rate, and principal amount. Simply stated—the start of loan repayment, all the way until the end, is called the loan period.

When Parent PLUS loans were first introduced in 1980, annual borrowing was capped at $3,000, or $10,000 in today's dollars. In 1992, borrowing caps were eliminated, and parents were allowed to borrow up to the cost of attendance, less any scholarships and grants, if they passed a credit history check.

The repayment period is then stretched out over 25 years. Any remaining loan balance after that time is forgiven. To be clear, the PLUS loans made to parents cannot be repaid directly under the ICR plan.

Graduated Repayment Plan—Under this plan, your payments will start off lower and then gradually increase, usually every two years. You must repay the loan in 10 years.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232