Eligibility
Do I qualify?
To qualify for a PLUS loan, both parent and student need to meet certain eligibility requirements:
STUDENTS
- Undergraduate enrolled at least half-time
- Maintaining satisfactory academic progress, as determined by the school
- Under 24 years old
- Single with no dependents
- Not in the military or a military veteran
- Not a ward of the court
- Not in default on any federal student loans
- U.S. citizen or permanent resident
PARENTS
- Parent or legal guardian of an eligible undergraduate student
- Creditworthy
- Not in default on any federal college loans
- U.S. citizen or permanent resident
How do I know if I’m creditworthy?
When you apply for a PLUS loan, we only look back at the last five years of your credit history. If your credit report is free of derogatory items (like collections and bankruptcies) for the past five years, you’re creditworthy. It’s as simple as that!
Concerned you might have a credit problem? No worries!
Our friendly credit resolution team works hard for you. Nearly 90% of our PLUS and Grad PLUS loan applicants have been approved! With our “second look” policy, we can help you get past unresolved credit issues, even if you don’t get a preliminary approval right away.
And remember, you can always apply with a co-signer. Just in case you need to.
Want to see if you qualify?
What’s a PLUS loan?
How do I apply?
How much can I borrow?
How much does it cost?
What’s my interest rate?
What are my repayment options?
PLUS Loan FAQs
