Federal PLUS Loans

Federal PLUS (Parent Loan for Undergraduate Student) Loans allow parents to borrow additional funds if funding gaps exist after other lower-cost sources of financial aid have been exhausted.

PLUS Loan limits are capped by the cost of attendance, less any other awarded student financial aid and scholarships. A PLUS loan borrower must be credit worthy.

It is very important to understand that PLUS loans are made to parents who are themselves solely responsible for loan repayment -- not the student.  Parents will be held responsible for any late payments or loan default.  In addition, the interest rate is higher than Stafford loans. Visit www.studentloans.gov for information on terms and conditions.

Credit Union Student Choice does not offer a PLUS Loan product. Effective July 1, 2010, the Federal Government is the sole lender on Federal PLUS Loans. All schools offer these loans direct from the Government (Direct PLUS Loan). Please contact your school's Financial Aid Office for more information or click here.