Parent plus loans

Parents Forum
1

<p>Hi could some of you explain how PARENT PLUS LOANS work.
Do you take out the loan with a lender and pay the lender- or is the loan taken out with the University. Sallie May is not an option with the UC’s.
Also what are some options it you have Adverse Credit or
Denied Credit Check and cannot obtain a cosigner.</p>

<p>“First time borrowers must submit a Master Promissory Note (MPN). Your school also may require a PLUS application. You can complete both the MPN and PLUS application at this site. You must use the Federal Student Aid PIN to complete these applications. If you do not have one, you may request one from the official PIN site.
Parents completing a PLUS eMPN must use their own PIN number, and not their child’s PIN number”</p>

2

<p>what state you in, some states have programs like MEFA in MA or RISLA in RI. If you have bad credit you may not qualify to get one. Who knows, maybe some bank does their own at a higher interest rate. Even more reason to try to aviod them.</p>

3

<p>I am in California</p>

4

<p>Run a search for this topic in the Financial Aid Forum and you should come up with some reports on different lenders.</p>

5

<p>This was on a financial aid web page </p>

<p><a href=“http://www.direct.ed.gov/parent.html[/url]”>http://www.direct.ed.gov/parent.html&lt;/a&gt;&lt;/p&gt;