parent plus loan questions

Q: What is a Parent PLUS Loan?
A: The Parent Loan for Undergraduate Students (PLUS) is a low interest loan offered through the Federal Government, in partnership with private lenders.  The interest rate is a fixed 8.5% and repayment begins 60 days after funds are disbursed.  Deferment while the student is enrolled in school is available with most lenders.

Q: How do I apply for a Parent PLUS Loan?
A: Parent PLUS Loan application may be completed through the Carroll College Financial Aid web at: http://www.carroll.edu/finaid/award/options.cc

Q: When should I apply for a Parent PLUS Loan?
A: Parent PLUS Loans take approximately 2 weeks to process.  If you are in need of the funds to assist with an outstanding balance at the college, please allow for adequate processing time.