Borrowers must be able to pass a credit check, and the student whose education is being funded must be a dependent that meets these minimum requirements: Parents access PLUS loans by filing an application, and signing a Master Promissory Note (MPN).
Your financial aid office is best equipped to outline specific programs offered by your school.
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Most students rely on a variety of funding sources to pay for college.
Personal savings and family contributions are one of the first places students turn, but often these resources don’t cover higher- education costs.
Students considering this loan should pay close attention to how their total repayment costs might be affected.
Consolidating and extending the repayment schedule of your loans can add considerable costs to your total obligation.
In Minnesota, for example, students are eligible for loans, under a program called SELF.
SELF is not subsidized, so worthy credit is required for getting a loan.
Scholarships and grants are windfalls for college funding, because they do not require repayment.
Performance and financial need are considered, and then eligible students are endowed with gifts that pay for tuition, books and housing.
Private student loans, such as those offered by Wells Fargo and Chase are designed to bridge the gap between your financial aid package and the true cost of your education. Cosigners who are willing to share responsibility for your loan provide the credit resources you need to get private financing.