Parent PLUS Loan

Important Information

• PLUS Loans are not restricted according to financial need.
• A credit check is required before approving a PLUS Loan.
• Parents with dependent students are only eligible for a PLUS loan.
• The parent receiving the loan is responsible for all interest which begins accruing
  at the time the loan is given.
• The student must have completed a Student Aid Data Form. This form will
  provide the necessary information for creating the student’s Cost-of–Attendance.
• The Financial Aid office will determine the amount the dependent student is
  eligible to receive based on the student’s Cost-Of-Attendance.
• All transcripts listed on the data form must be provided to ensure Satisfactory
  Academic Progress is maintained.

Eligibility Requirements

• The dependent student must be enrolled in al least (6) hours
• The student must be making Satisfactory Academic Progress (minimum 2.0 GPA and 75% completion ratio).

Interest Rate and Fees

• The interest rate is fixed for a PLUS loan.  It is currently 8.5%.
• A 3% origination fee is collected prior to the loan disbursement.

Applying for the Parent PLUS

• Submit a Student Aid Data Form to the Financial Aid Office so that grades can be checked.
• Click on your lender choice below.
• Follow the directions provided by your lender.
• E-sign the Master Promissory Note once all information is entered.
• Upon completion an approval or denial message will be provided for you.
• All approvals will be sent to our guarantor agency for processing.
• If you are denied, print the denial message and forward to your Financial Aid Office. With the denial letter on file the dependent student can be eligible for an Additional Unsubsidized Loan (AUSB).
• The Loan Advisor will then certify approved loans for eligible amount.
• Funds will be sent from your selected lender and applied to the student’s account.
• Any remaining funds will be refunded by the Business Office according to the method you select on the PLUS Authorization Form.

Required Forms:

Student Aid Data Form

Plus Authorization Form

******NO PLUS LOAN FUNDS WILL BE REFUNDED UNTIL WE HAVE RECEIVED A COMPLETED PLUS AUTHORIZATION FORM******

Click here for 2009-2010 PLUS Loan Lender List Comparative Chart

The Blinn College lender list serves as guidance for Plus Parents when selecting a lender for their Federal Stafford Loans.  Plus Parents are not required to choose a lender from our list.  Therefore, Plus Parents have the right to choose a lender that is not listed on the above lender list.  For lenders to be included on this list they must demonstrate quality service to Plus Parents, fair and reasonable repayment options and incentives, and quality customer service to our staff.  Blinn College conducts a formal review of prospective lenders each year through a request for information survey.

Lender Benefit information last updated June 1, 2009

Page Last Updated: June 3, 2009