Get the free Federal Direct PLUS (Parent) Loan Request Form - bethel

This form is used by parents of dependent undergraduate students to apply for a Direct PLUS Loan for the academic year 2013-2014 at Bethel University.

How to fill out federal direct plus parent

How to fill out Federal Direct PLUS (Parent) Loan Request Form

1. Obtain the Federal Direct PLUS (Parent) Loan Request Form from the Federal Student Aid website.
2. Read the instructions carefully to understand the eligibility criteria and terms of the loan.
3. Fill in your parent information, including name, address, social security number, and phone number.
4. Provide information about your child, including their name, date of birth, and school they will be attending.
5. Indicate the loan amount you wish to borrow, ensuring it does not exceed the cost of attendance minus any other financial aid received.
6. Provide information on your income and credit history as required.
7. Review the completed form for accuracy and sign it.
8. Submit the form as directed, either online or by mailing it to the appropriate address.

Who needs Federal Direct PLUS (Parent) Loan Request Form?

1. Parents of dependent undergraduate students who need additional financial resources for education expenses.
2. Parents whose children are attending college or vocational school who require funding beyond federal student loans and grants.
3. Parents who meet credit eligibility requirements and want to help finance their child's education.

People Also Ask about

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 is the maximum parent PLUS loan amount?

Unlike all other federal student loans, there are no explicit borrowing limits for parent PLUS loans. Parents may borrow up to the full cost of attendance, which is determined by the institution, not the government, and includes books, travel and living expenses.

What is the maximum amount of student loans you can get?

For federal direct student loans, undergraduates can borrow up to $12,500 annually and up to $57,500 total. Graduate students can borrow up to $20,500 annually and $138,500 total, including their undergraduate borrowing. Federal PLUS loans are capped at your school's total cost of attendance.

Is direct PLUS loan different from parent PLUS loan?

Note: A Direct PLUS Loan is commonly referred to as a parent PLUS loan when made to a parent, and as a grad PLUS loan when made to a graduate or professional student. Begin your Direct PLUS Loans application online.

What is the maximum for a parent plus loan?

Unlike all other federal student loans, there are no explicit borrowing limits for parent PLUS loans. Parents may borrow up to the full cost of attendance, which is determined by the institution, not the government, and includes books, travel and living expenses.

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 is the maximum amount you can borrow from Direct Plus?

How much can I borrow in Direct PLUS Loans? There are no set annual or aggregate limits. You may borrow up to your full cost of attendance, minus any other financial aid you receive (including Direct Subsidized Loans, Direct Unsubsidized Loans, scholarships, and certain fellowships).

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.

For pdfFiller’s FAQs

What is Federal Direct PLUS (Parent) Loan Request Form?

The Federal Direct PLUS (Parent) Loan Request Form is a financial document that allows parents of dependent undergraduate students to apply for the Federal Direct PLUS Loan, which helps cover education costs not met by other financial aid.

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

Parents of dependent undergraduate students who wish to borrow funds to help pay for their child's college education are required to file the Federal Direct PLUS (Parent) Loan Request Form.

How to fill out Federal Direct PLUS (Parent) Loan Request Form?

To fill out the form, parents need to provide information such as their personal details, financial information, the student's details, and the requested loan amount. The form can typically be completed online through the U.S. Department of Education's website or through the college's financial aid office.

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

The purpose of the Federal Direct PLUS (Parent) Loan Request Form is to facilitate the borrowing of funds by parents to assist with their child’s higher education expenses, ensuring accessibility to necessary financial support.

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

The form requires reporting personal information such as the parent's Social Security number, date of birth, financial information including income and employment details, information about the student including their Social Security number and school, and the loan amount requested.