Qualifying for a Federal PLUS Loan
The Federal PLUS Loan is available regardless of income, assets, or financial need. This means any parent who passes federal guidelines for creditworthiness, which are generally less stringent than for other types of consumer credit, may qualify for a PLUS Loan.
More importantly, there is no collateral required, so families don’t have to mortgage their homes, or put their businesses or other investments at risk.
To be eligible for a Federal PLUS Loan, the parent must be:
A biological, adoptive or step-parent of a dependent undergraduate student
A U.S. citizen or eligible non-citizen
Able to meet federal minimum standards of creditworthiness
In addition, students must be:
U.S. citizens or eligible noncitizens
Less than 24 years of age as of December 31 of the academic year
Unmarried, with no dependents, and not a veteran of U.S. armed services
Or call us toll-free at (800) 299-4639
Quick Links
» Getting a Federal PLUS Loan
» Super-low rates and generous terms
» There are more savings available
» Treat the loan as your child's debt
For more information about NextStudent, visit www.NextStudent.com.
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