Get the free 2013-14 Federal Direct Parent PLUS Loan Application - mckendree

This document is a loan application for parents to apply for a Direct PLUS Loan for their child attending McKendree University during the 2013-2014 academic year, including requirements and eligibility

How to fill out 2013-14 federal direct parent

How to fill out 2013-14 Federal Direct Parent PLUS Loan Application

1. Obtain the 2013-14 Federal Direct Parent PLUS Loan Application form, either online or from your child's school.
2. Fill in your personal information, including your name, Social Security number, and address.
3. Provide your child's information, including their name, date of birth, and school details.
4. Indicate the loan amount you wish to borrow and ensure it does not exceed the cost of attendance minus other financial aid.
5. Review the loan terms and conditions, including interest rates and repayment options.
6. Sign and date the application, confirming all the information provided is accurate.
7. Submit the completed application to the Department of Education or your child's school as instructed.

Who needs 2013-14 Federal Direct Parent PLUS Loan Application?

1. Parents of dependent undergraduate students who need to cover education costs not covered by other financial aid.
2. Parents wishing to finance their child's education through federal loans.
3. Parents looking to borrow funds for college expenses directly from the government.

People Also Ask about

What is the maximum direct 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.

Is IDR available for parent PLUS loans?

If you have parent PLUS loans, you must consolidate your loans to become eligible for an IDR plan. The online income-driven repayment (IDR) plan and loan consolidation applications are available.

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.

Are direct parent plus loans eligible for forgiveness?

Direct PLUS Loans for Parents These loans are eligible for PSLF only if they've been consolidated into a Direct Consolidation Loan and are being repaid under the Income-Contingent Repayment (ICR) plan.

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.

Will direct parent PLUS loans be forgiven?

Public Service Loan Forgiveness for Parent PLUS Loans Parent borrowers may be eligible for Public Service Loan Forgiveness (PSLF) after making 120 qualifying payments (ten years). Parent PLUS loans are eligible if they are in the Direct Loan program or included in a Federal Direct Consolidation Loan.

Do direct loans qualify for forgiveness?

Only federal Direct Loans can be forgiven through PSLF. If you have other federal student loans such as Federal Family Education Loans (FFEL) or Perkins Loans you may be able to qualify for PSLF by consolidating into a new federal Direct Consolidation Loan.

What is the loophole for parent plus loans?

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.

For pdfFiller’s FAQs

What is 2013-14 Federal Direct Parent PLUS Loan Application?

The 2013-14 Federal Direct Parent PLUS Loan Application is a form that allows parents of dependent undergraduate students to apply for federal loans to help cover educational costs. It is specifically designed for parents to borrow funds on behalf of their children for college expenses.

Who is required to file 2013-14 Federal Direct Parent PLUS Loan Application?

Parents of dependent undergraduate students who wish to borrow a PLUS loan for their child's education are required to file the 2013-14 Federal Direct Parent PLUS Loan Application. Both the parent and student must also complete the FAFSA in order to be eligible.

How to fill out 2013-14 Federal Direct Parent PLUS Loan Application?

To fill out the 2013-14 Federal Direct Parent PLUS Loan Application, parents need to gather personal information, including Social Security numbers, income details, and information about the dependent student. They will then access the application online through the Federal Student Aid website or through their child's college financial aid office, fill out the required fields, and submit the application.

What is the purpose of 2013-14 Federal Direct Parent PLUS Loan Application?

The purpose of the 2013-14 Federal Direct Parent PLUS Loan Application is to allow parents to borrow federal funds to help pay for their dependent child's education expenses. The program assists families in managing the costs associated with higher education.

What information must be reported on 2013-14 Federal Direct Parent PLUS Loan Application?

The 2013-14 Federal Direct Parent PLUS Loan Application requires parents to report information such as their personal identification details, the Social Security number, the financial information of the parent borrower, and the student's information, including the college they will attend and the amount they wish to borrow.