Get the free Federal Direct Parent PLUS Loan Request - uwosh

This form is used by parents to apply for the Federal Direct Parent Loan for Undergraduate Students (PLUS) to cover educational expenses at UW Oshkosh.

How to fill out federal direct parent plus

How to fill out Federal Direct Parent PLUS Loan Request

1. Obtain the Federal Direct Parent PLUS Loan Request form from the Federal Student Aid website or your child's school financial aid office.
2. Complete the borrower information section, providing your name, social security number, date of birth, and other required details.
3. Provide information about the student, including their name, school identification number, and the school they will be attending.
4. Select the loan amount you wish to request, up to the full cost of attendance minus other financial aid received.
5. Complete the credit check section, which may involve providing consent for a credit report to be pulled.
6. Review the terms and conditions of the loan, ensuring understanding of interest rates and repayment obligations.
7. Sign and date the application form.
8. Submit the completed form to the appropriate school financial aid office or via the specified online submission method.

Who needs Federal Direct Parent PLUS Loan Request?

1. Parents of dependent undergraduate students who wish to help finance their child's education costs.
2. Families who have exhausted other financial aid options or need additional funds beyond scholarships and federal student loans.
3. Parents who can demonstrate a good credit history and are willing to take on the financial responsibility of repaying the loan.

People Also Ask about

What are the negatives about the parent PLUS loan?

Drawbacks of the Parent PLUS Loan Discharge: Federal parent PLUS loans are rarely discharged for financial difficulties resulting from unemployment, age-related or other illnesses and injuries, or bankruptcy. Nontransferable: Parents cannot transfer the PLUS loan to their student to repay after they finish school.

How hard is it to get a parent PLUS loan?

To be eligible for a Direct PLUS Loan for parents, you must be a biological or adoptive parent (or in some cases a stepparent), not have an adverse credit history, and meet the general eligibility requirements for federal student aid (which the child must meet as well).

Is it smart to take out a parent PLUS loan?

Parent Plus loans have higher interest rates and fees, so they're generally not a good idea. Plus, it's your degree, not your parents, so you should be responsible for the costs. Stick with private loans and focus on manageable debt.

What is federal direct parent PLUS loan request?

Federal Direct PLUS loans are federal loans that graduate or professional students and parents of dependent undergraduate students can use to help pay for college or career school. You must complete a new Direct PLUS Application for each year you wish to receive a parent PLUS loan.

Is a direct PLUS loan a good idea?

While these loans might seem like an easy way for parents to help their child with education costs, in far too many cases, they put the parent's financial security and retirement at risk.

What are the disadvantages of a direct PLUS loan?

What Are Some Reasons to Avoid PLUS Loans? First, PLUS loans have no automatic grace period. Then there's the fact they aren't eligible for most IDR plans. Then, borrowing too much is easy to do, and finally, they're nearly impossible to get out of, even in bankruptcy.

What is the loophole for parent plus borrowers?

In addition, parent PLUS loans aren't eligible for some other types of federal student loan forgiveness programs. To get around this, some borrowers go through two or more federal consolidations to hide the origin of the loans, then request an IDR plan. This process is often called the double consolidation loophole.

What are the limitations of a direct PLUS loan?

Loan Amount Limits The maximum PLUS loan amount you can borrow is the cost of attendance at the school your child will attend minus any other financial assistance your child receives. The cost of attendance is determined by the school.

For pdfFiller’s FAQs

What is Federal Direct Parent PLUS Loan Request?

The Federal Direct Parent PLUS Loan Request is a financial aid application process where parents of dependent undergraduate students can apply for a federal loan to help cover the cost of their child's education.

Who is required to file Federal Direct Parent PLUS Loan Request?

Parents of dependent undergraduate students who need additional funds to pay for college expenses are required to file the Federal Direct Parent PLUS Loan Request.

How to fill out Federal Direct Parent PLUS Loan Request?

To fill out the Federal Direct Parent PLUS Loan Request, parents must complete the application online through the U.S. Department of Education's website, providing necessary information such as personal details, financial information, and the student's details.

What is the purpose of Federal Direct Parent PLUS Loan Request?

The purpose of the Federal Direct Parent PLUS Loan Request is to provide parents with a way to borrow money to help finance their child's education, ensuring that they have access to necessary funds for tuition, room and board, and other college-related expenses.

What information must be reported on Federal Direct Parent PLUS Loan Request?

The information that must be reported on the Federal Direct Parent PLUS Loan Request includes the parent borrower's personal information, the student's information, loan amount requested, and financial information such as income and credit history.