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The Parent Loan for Undergraduate Students (PLUS) is a loan taken out in the parents’ name to borrow at a favorable interest rate in order to help finance their child’s college education.
This loan is only available for students who are listed as a Dependent after filling out the FAFSA. If the parent is denied the PLUS loan, the student becomes eligible for an additional $4,000 in Federal Direct Unsubsidized Loan money as a freshman or sophomore, or $5,000 in Federal Direct Unsubsidized Loan money for a junior or senior. Visit www.studentaid.gov to apply for the PLUS loan.
NOTE: We recommend parents apply for the PLUS loan within 3 months of their student starting classes at Eastern due to the credit check. If you choose to apply for a PLUS loan far in advance of your student starting classes, you may be subject to an additional credit check.