Plus Loan (Parent Loan)
The Federal PLUS
(Parent
Loan for Undergraduate Students), a Federal Family Education Loan
Program (FFELP) loan, is a federally-funded, low interest rate loan
for parents of undergraduate, dependent students.
Features and benefits:
Available to parents
regardless of income or assets.
Covers the total cost of
education, including tuition, room and board, books and supplies,
transportation cost, living expenses and fees.
-
Loan requires no
collateral.
-
Flexible repayment
options.
-
Interest may be deducted
from your income tax.
To be eligible:
-
U.S. citizen or
permanent resident.
-
Parent of full or half
time undergraduate student.
-
No adverse credit
history.
Loan limits:
Interest rate:
To choose Legend Bank as your lender for your Plus loans enter the
Legend Bank lender code on your application. Legend Bank's
Lender code
is 810785.
