I would like some information about the PLUS Loans program for education.
PLUS loans are in place to help parents pay for education expenses not covered by other financial aid
And how do I apply for one of these loans?
There is an online application for you to apply for a parent PLUS loan.
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If I do get a PLUS loan and I'm having trouble repaying it, what will happen?
If you will have trouble making a payment, contact your loan servicer right away. They can help you understand your options for keeping your loan in good standing.
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What criteria must I meet to be eligible for this loan?
Are you either the biological, adoptive parent or stepparent of a dependent undergraduate student enrolled at least half-time at an eligible school?
Yes the biological parent.
Is your credit rating good?
Yes I have a decent credit rating.
Do you meet the eligibility requirements for federal student aid?
Yes, I think I do.
Then you should be a candidate to receive a parent PLUS loan.
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You mentioned earlier that my loan agent could help me if I'm having trouble paying. What exactly could he do?
For example, they might be able to change your repayment plan to lower your monthly payment or request a deferment that allows you to temporarily stop or lower the payments on your loan.
