CURRENT PLUS INTEREST RATES:
8.50% for loans disbursed on or after July 1, 2006
|
St. Edward's has partnered with Texas Guaranteed Student Loan
Corporation (TG) to provide an on-line application for the
federal Parent PLUS Loan.
Before Applying
Please have the following information available:
- Student's social security number and date of birth
- Name, address, and phone number of two references
- Requested loan amount
Please contact your family's financial advisor if you
need help determining how much PLUS loan you should
borrow. The maximum amount is the difference between
the cost of attendance for the loan period minus your
student's other financial assistance.
We recommend
applying for the whole academic year's amount
(fall+spring)
at one
time.
Remember that the PLUS is subject to a 3 percent origination
fee deducted directly from the loan at the time of disbursement.
- Loan
period
When asked for the period of enrollment you intend
this loan to cover, please select from the following
dates:
| SUMMER 2009–SPRING 2010 |
5/18/09–5/6/10 |
| FALL 2009–SPRING 2010 |
8/24/09–5/6/10 |
| SUMMER 2009 ONLY* |
5/18/09–8/11/09 |
| FALL 2009 ONLY* |
8/24/09–12/10/09 |
| SPRING 2010 ONLY* |
1/11/10–5/6/10 |
| *single semester loans are subject
to a split disbursement--the first half of the
funds may be disbursed at the start of the semester
and the second half at the mid-point of the term |
- Department of Education PIN
If you used a PIN to sign your family's "FAFSA on
the Web", you can use the same PIN to sign your PLUS
loan promissory note electronically.
- Lender Choice
You will be asked to pick a lender to fund your PLUS
loan. Some lenders offer borrowing incentives, such
as rebates
on the principal loan balance or opportunities for interest
rate reductions. You can review a list of commonly
used lenders and their various benefit offerings here.
After Applying
When our office has received confirmation that your
application has been approved, we will mail you a PLUS
Loan Release Form to complete and return. On this form,
you will indicate who should get any refund from the PLUS
(you or your student).
If you are denied for a PLUS loan due to credit
reasons, contact your family's St. Edward's financial advisor
for alternate loan financing options.
For questions about loan amounts
Contact our office at 800-555-0164 or 512-448-8523
For questions about the on-line application process
Contact TG at 800-845-6267 |
