Federal Loan Programs Gettysburg PA
An Overview of Parent PLUS Loans
The Parent PLUS loan program is a federal loan program thatallows your parents to borrow up to the cost of attendance(COA) for your college education. The Parent PLUS loan isonly available to parents with children pursuing
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Dentistry Health Law MBA Medicine Nursing Veterinary Medicine Other
FFELP vs. Direct
As with Stafford loans ,PLUS loans are administered through the FFELP and Direct Loans programs. Each college decides which programit wants to use for its students and their parents.Most colleges participate in one program or the other,but some actually participate in both.
Under the FFELP program, your parent will get theirPLUS loan from a lender (like Discover Financial Services,Sallie Mae, or CitiBank). In this situation, your parentneeds to make a decision about which lender is the bestoption. Colleges will often present you and your parentswith a Lender List containing information about the ParentPLUS loans offered by various lenders. Your parents havethe option of picking a lender off this Lender List orgoing with another lender that they may have uncoveredin their research.
PLUS Loan Limits
PLUS loan limits a...