FAFSA Formula
Direct Plus Loan Session
Direct Plus Loan Session
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Frequently Asked Questions
What do I need? (Grad Plus)
What do I need? (Grad Plus)
FSA ID
Requested Loan Amount
School Name
Personal Information
Employer's Information
What do I need? (Parent Plus)
What do I need? (Parent Plus)
Parent's FSA ID
Requested Loan Amount
School Name
Student Information
Personal Information
Employer's Information
Credit Check Required
Credit Check Required
What is the parent plus loan?
The parent plus loan is a loan through the department of education that the parent applies on behalf of the student to cover the remaining balance that the student may have at their school of choice.
The parent plus loan is a good option to apply for because its interest rate is at competitive fixed rate 7.54% with the option to defer payments while the student is enrolled in classes
If the parent is approved for the parent plus loan, the loan will be under the parents name and be disbursed directly to the school that the student is enrolled in. The parent qualifies to receive up the remaining cost of attendance post financial aid assistance to help cover any personal expenses that the student may need.
If the parent is denied for the parent plus loan, the student will become eligible to receive an additional amount in Unsubsidized loan to help cover bringing the remaining balance down.
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FAFSA Formula can help all parents and students complete the direct plus loan application and its supplemental documentations to avoid the endless lines that await most higher education institution’s financial aid offices.
What is a Grad Plus loan?
Students in their graduate programs do not qualify for pell grants or subsidized loans, therefore covering the cost of their graduate education can be more expensive. Graduate Students are eligible to apply for a direct Plus loan that will allow students to receive up to the cost of attendance after financial assistance is calculated to help cover the cost of personal expenses while they are enrolled in classes. Grad plus loan are at a fixed rate of 7.54% starting July 2022.
FAFSA Formula can help you complete the direct plus loan application and its supplemental documentations to avoid the endless lines that await most higher education institution’s financial aid offices.