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Parent PLUS

A PLUS loan is the best loan for parents who want to pay for their child’s education.

Eligibility

Parent
To get a Parent PLUS loan, you must:

• Be the student’s natural parent, adoptive parent, or in some cases, stepparent
• Be a U.S. citizen or eligible non-citizen
• Have no education loans in default or owe educational grant refunds
• Be creditworthy

Student
For your parent to get a Parent PLUS loan, you must:

• Complete the Free Application for Federal Student Aid (FAFSA)
• Be a dependent student. Parents of independent students are not eligible.
• Be enrolled in a school that participates in the Federal Family Education Loan Program
• Be enrolled at least half-time while working toward a degree or certificate
• Have no education loans in default or owe educational grant refunds
• Register with the Selective Service, if you are male and 18-25 years old

Features & Terms

Who Pays	The parent repays the loan.
Interest Rates	The current fixed interest rate is 8.5% for loans disbursed on/after July 1, 2006. Your lender may offer additional interest rate reductions. Be sure to ask. Will never exceed 9.0%. Interest payments can be tax deductible.
Fees	Origination fees will not exceed 3%. Federal default fee will not exceed 1%.
Annual Loan Limits	Borrow the difference between your child’s cost of attendance and financial aid award - up to 100% of total costs Use loan funds for all associated costs - including tuition, room and board, books, transportation, computer, etc.
Repayment	Repayment begins within 60 days after the school receives the final loan funds. Take 10 years to pay - longer with flexible repayment options. Postponement of repayment may be available upon request while your dependent student is enrolled at least half-time. No penalties for paying your loan off early.
Loan Management	Parent PLUS loans in repayment are eligible for loan consolidation. Manage your loans any time. Get single-point servicing for the life of the loan with AES. Get one statement for all AES-serviced loans. We are with you every step of the way. Contact us.

Apply for this Loan

• No income requirements
• Poor credit? May still qualify with credit-ready endorser