You will apply for a Parent Plus loan at the time you need it. For example, if you will need it to pay tuition for fall of senior year, you would apply for the loan before the tuition bill is due (apply after July 1, typically). Keep in mind that you have to fill out a FAFSA before you can borrow a Plus loan. So the FAFSA has to be on file, then you will read the school financial aid website to find out how to apply for the Plus loan (or contact them to find out). You should have your child borrow the maximum they can borrow before taking out the Plus loan - the interest rate and origination fees are lower for the student loans, so even if you plan to pay all loans, be sure to take advantage of student loans first.
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