Parent PLUS Loans

Lenders are listed in random order each time this page is displayed. No preference is given to any one particular lender.

The Federal Parent Loan for Undergraduate Students (PLUS) program allows parents to borrow up to the full cost of education minus other financial aid (including the unsubsidized Stafford loan). Students should apply for, and finalize, a Stafford loan before applying for a PLUS loan because a PLUS loan could reduce the Stafford loan amount for which a student is eligible. (For most families, the terms of a Stafford loan are more attractive than those of a PLUS loan.)

PLUS loans are not dependent upon your family's income or assets; however, a credit check is required. No collateral is required. The interest rate is fixed at 8.5% for loans disbursed on or after July 1, 2006. PLUS loan disbursements are issued each term. A 3% origination fee and up to 1% default fee may be deducted from the loan proceeds.

SSU has selected a preferred lender list through a lender request for information bid process. These lenders are those who have provided borrowers with efficient, quality service. Should any difficulties arise in securing your funds, staff members know who to contact to resolve the problem. Further, choosing one of Shawnee State University's preferred lenders guarantees that we will be able to electronically transmit your loan information to the lender and the lender will transmit your loan funds to Shawnee State University via electronic funds transfer (EFT).

While these lenders have subscribed to the Sallie Mae Opennet and Great Lakes Scholarnet data transmission service, with internet security safeguards, Shawnee State University cannot guarantee that these lenders have secure internet systems or information systems. You are encouraged to ask appropriate questions of your chosen lender if you have any security concerns.

Students and parents are not required to select a lender from our preferred lender list. They may choose a lender of their choice.

Apply now for your student loan.
 

For additional information or questions regarding student loans, please contact the Financial Aid Office at 740.351.4243.