Parent PLUS Loan Basics. Before you start the application form procedure, please read the important info below.
- Work Research
- Satisfactory Academic Progress (SAP)
- Advanced Schooling Act
The Parent PLUS Loan is a federal direct loan made into the parentвЂ™s title when it comes to academic costs of his / her reliant kid enrolled at the least six hours in the University of Alabama. People entitled to submit an application for the Parent PLUS loan are: the studentвЂ™s biological moms and dads, adoptive parents, and, in some instances, stepparents. Appropriate guardians and non-adoptive grand-parents or other loved ones aren't qualified. Other skills must certanly be met as they are described below.
The University of Alabama must receive and verify the results of the Free Application for Federal Student Aid (FAFSA) submitted by the student for whom the Parent PLUS Loan is being requested before considering a parentвЂ™s application for a Parent PLUS Loan.
The pupil is not needed to simply accept Federal Direct Subsidized and/or Unsubsidized Loans offered on the basis of FAFSA outcomes.
All loans are at the mercy of price of Attendance limits. No honors are built to a pupil who has got reached the restriction of his/her aid that is financial spending plan. If extra resources are gotten by the pupil after loans are granted, the loans could be reduced and funds came back to your U.S. Department of Education.
If authorized when it comes to Parent PLUS Loan, the moms and dad borrower must signal a Parent PLUS Master Promissory Note at studentaid.gov, making use of his / her very own Federal Student help PIN (if she or he have not currently done this).
If credit when it comes to Parent PLUS Loan is denied, the moms and dad debtor may look for an override of this credit decision either through an appeal, or get documents for the qualified endorser, by calling Direct Loans Applicant Services straight at 1.800.557.7394.