How to apply for a PLUS (Parent) Loan
"PLUS" stands for "Parent Loan for Undergraduate Students." This is a federal loan for parents of dependent students. Eligibility for this loan is not based on financial need or family income. Parents applying for a PLUS Loan undergo a credit check. The loan amount is approved by the financial aid office. The interest rate is 8.5% for 2007-2008. Repayment begins within 60 days of disbursement Note: PLUS loans are not automatically included as part of your financial aid package. You must apply for these loans through the MIAD Financial Aid process. Before applying for a PLUS Loan students and families must apply for Financial Aid with the Free Application for Federal Student Aid (FAFSA). This is to ensure that all other types of financial aid are considered before the PLUS loan. To apply for a Parent Loan for Undergraduate Students (PLUS), please click the link below. To process a PLUS through the link some additional information from your parents is needed. Do not get a loan application from your bank! Please contact the MIAD Financial Aid Office if you have any questions. FASTPLUS We advise you to select the appropriate lender for your loan needs. MIAD works with a group of major regional and national lenders. The MIAD Financial Aid Office feels that these lenders have established themselves as quality financial institutions. The lenders whom MIAD works with are: Chase, Student Loan Xpress, US Bank, and Wells Fargo. Please contact the MIAD Financial Aid Office for any further information.
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