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Topic: PLUS loans - amounts, timing?  (Read 1394 times)

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PLUS loans - amounts, timing?
« on: July 01, 2008, 06:51:24 PM »
Forgive me if I am being dense. I did not apply for a PLUS loan last year, but I will need to this year. My questions are:

1) I am ready to send in the Stafford loan bit to my UK school - should I apply for a PLUS loan at the same time? The school's website advises waiting until I find out how much I get in the Stafford loan before applying for a PLUS loan, but it's July...

2) If I do apply for a PLUS loan now, do I really have to state how much I want to borrow in the PLUS loan? The cover letter I have to send to my uni along with my SAR & MPN asks how much I want to take out under each loan. How can I decide this now, without knowing how much I will be offered? Am I missing something here?

3) Sallie Mae customer service said that I can only have ONE loan application for each academic year - did they mean one of each type? (ie, can I have a Stafford and PLUS loan at the same time)?

Sheesh, this was easier last year when I just took out the maximum Stafford loan. Thanks for any advice  :)


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Re: PLUS loans - amounts, timing?
« Reply #1 on: July 03, 2008, 12:56:14 AM »
Are you applying to grad school?

If yes, then you aren't eligible for a PLUS loan.

If no, then I have no idea what to tell you.
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Re: PLUS loans - amounts, timing?
« Reply #2 on: July 03, 2008, 06:55:03 AM »
there are PLUS loans for grad students now, actually. :)  (they're not the same as undergrad PLUS loans though, which are for parents!)
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Re: PLUS loans - amounts, timing?
« Reply #3 on: July 03, 2008, 03:35:59 PM »
Once again, I am confused.  I was sure that when I went through the FAFSA process, I saw that they were not an option.

Oh, well - I'm getting used to being confused  [smiley=goofy.gif]
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Re: PLUS loans - amounts, timing?
« Reply #4 on: July 04, 2008, 02:15:08 PM »


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