Hello i have a question regarding parent plus loan and off campus housing. If your student moves into off campus housing , is the off campus housing expense factored into the parent plus loan?
The parent plus loan (maximum amount) is based on the COA of the student. Some schools figure in a set amount for that off campus living costs but others will consider what your actual costs are if you can show them a lease (you’d have to appeal to get more in some cases).
So your Plus loan would be Total Cost of Attendance - merit aid - other student aid (loan, work study, need based aid) = Max amount of Plus loan.
@twoinanddone Ok so I was worried that if she moves into off campus housing, then I will be offered the parent plus loan only to cover tuition. But from what you are saying it seems I can still get the parent plus loan and pay for off campus housing. I hope that’s the case. The off campus housing is cheaper but I was telling my D that she cannot move out of on campus housing because I thought that the parent plus loan only looks at on campus housing. I guess I should also call the school for clarity.