<p>I have a friend that goes to SUNY Bing. Her family gross income I think probably 30K-35K (annually). I know she got the presidential scholarship, and perhaps she might’ve been offered some other scholarship from Bing as well. What I’m curious about is the fact that she has to apply for Plus Loan every year. I mean even after Stafford Loan?..does that means Pell and Tap isn’t giving her much?..Bing doesn’t cost more than 15-16K a year anyway…</p>
<p>Plus loan is for parents, to cover the Expected Family Contribution, or the EFC and the “gap” when schools don’t meet full need. It’s not required-- totally optional.</p>
<p>You probably don’t know their precise financial situation-- and there a number of factors in additional to parental income that determine the EFC. In general, though, a family with a parental AGI of 30K to 35K and few assets should end up with a very low EFC, and a significant need-based aid package. But many schools don’t meet 100% of need. Hence the Plus loan.</p>