PLUS Loans are federal loans borrowed by a parent on behalf of a dependent student.
Salve Regina will participate in the William D. Ford Federal Direct Loan Program for all federal parent PLUS, graduate PLUS and Stafford loans awarded after July 2010. With direct loans, students and parents borrow directly from the U.S. Department of Education instead of through the private banks and lenders who participated in the Federal Family Education Loan Program. The direct loan program offers a simpler, faster, less expensive and more reliable source of funding for students and their families.
Note: The interest rate on the federal PLUS Loan is fixed at 7.9 percent. There is a 4 percent loan fee deducted by the U.S. Department of
Education from the total loan amount upon disbursement. All other terms and conditions to repay the loan remain the same.
Loan Application Process
are disbursed electronically to Salve Regina, allowing funds to be posted
directly to the student's account. In order to apply for a federal PLUS Loan, you must complete a Master Promissory Note. Please be advised that
parents must use their Federal Student Aid (FAFSA) PIN to complete this
application. If you do not have one, you may request one from the official PIN site. To begin the application process, please log on to www.StudentLoans.gov. Click on the link
below for more detailed instructions:
Parent PLUS Loan Application Instructions