Apply for a Parent PLUS Loan Online | Your Credit Advisor

How to Get a Parent PLUS Loan

What it is

A parent PLUS loan is a loan for undergraduate students that enables parents and other legal guardians with good credit history to pay the education expenses of each child who is a dependent undergraduate student enrolled at least half time in an approved college or university. The loans are available through the FFEL program, or the Federal Family Education Loan program. Families may borrow up to the total cost of undergraduate education, including tuition, room and board, supplies, lab expenses and travel less any other aid. The loans are credit based, rather than need based. Anyone can apply.

The interest rate for the parent PLUS loan is 8.5 percent and this type of loan does not require any collateral. There is no penalty for early repayment and consolidating the loans after graduation is also an option. The interest on the loan is also tax deductible under the Hope Education Tax Credit. Families can borrow federally guaranteed, low interest loans to help pay for education, without worrying about collateral, need-based application processes or FAFSA preparation time.

Who it's for

Tuition and education expenses become more and more expensive every day. Often, students aren't able to pay for these costs on their own and neither are their parents or guardians. Parent PLUS loans can help. They are for people attending post-secondary education and require additional and easy-to-access funding. The loan has a low interest rate and flexible repayment options. This loan is for parents who want to provide their children with financing for education.

What you need to do to apply

Parents applying for parent PLUS loans need to go through proper approval channels. This means providing financial and personal background, information about intended education, proof of registration at an academic institution, and a credit check.

Apply for a Parent PLUS Loan

Click here to apply for a personal or education loan at PlanetLoan:

Popular Credit Cards

Recommended Credit Card

The Platinum Card® from American Express

The The Platinum Card® from American Express is one of the most popular cards available. Your Credit Advisor recommends it as our favorite in this category.

25,000 Membership Rewards® points when you spend $1,000 during your first three months of Card membership
GLOBAL Travel benefits: Priority Pass select airport club access, No Foreign Transaction Fees, Global Entry expedited U.S. immigration pass
Up to $200 in Airline Fee Credits annually to cover incidental charges on your airline of choice, including checked-baggage fee
24/7 Platinum Card® Concierge service for assistance with reservations, travel, gifts, and more
FINE HOTELS & RESORTS Program: exclusive upgrades and amenities at over 700 boutique, resort, and luxury hotels worldwide
Apply online now at American Express's Web site.

Intro APR	Regular APR	Credit Needed	Annual Fee
No Introductory Rate Available	No APR	Very Good	$450

Citi® Platinum Select® MasterCard®

0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the APR will be 11.99%-21.99% based upon your creditworthiness.
Extra Cash from Citi: enjoy discounts on gift cards, travel, merchandise and more
Citi® Identity Theft Solutions
Secure, free online account management
No annual fee*
Read our review or apply online now at Citibank's Web site.

Intro APR	Regular APR	Credit Needed	Annual Fee
0% Intro APR*	11.99% - 21.99%* (Variable)	Very Good	$0*

Starwood Preferred Guest® Credit Card from American Express

Starpoints® Bonus: 10K with your first purchase and another 15K when you spend $5k within 6 months - enough for up to 6 free nights at a Category 1 or 2 hotel
Free nights, free flights: Redeem Starpoints with over 350 airlines through SPG Flights and more than 1,000 hotels and resorts worldwide. No blackout dates
2011 SmarterTravel® Award for "Best Travel Rewards Card"
$0 introductory annual fee for the first year, then $65
Read our review or apply online now at American Express's Web site.

Intro APR	Regular APR	Credit Needed	Annual Fee
No Introductory Rate Available	15.24% - 19.24% variable	None	$65*

IberiaBank Visa® Classic Card

No Annual Membership Fee
Low variable rate of 7.25%, 10.25%, or 13.25% (Prime + 4.00%, Prime + 7.00%, or Prime + 10.00%) as of 4/1/10 based on the creditworthiness. This APR will vary with the market based on the Prime Rate. (If there is an interest charge, the charge will be no less than $1.00).
Low Introductory APR on balance transfers of 1.99% for your first 6 billing cycles, this rate will not change during the introductory period. Applies to balance transfers processed within three months of your account open date. After that, your APR will be the same as your assigned purchase rate, based on your creditworthiness.
Online Access to Credit Card Account Information
Apply online now at the card issuer's Web site.

Intro APR	Regular APR	Credit Needed	Annual Fee
1.99% APR for 6 Months	7.25%, 10.25%, or 13.25%*	None	$0

American Express® Gold Card

Earn 10K Membership Rewards® points, redeemable for select gift cards valued at $100, when you spend $1,000 in your first 3 months of Card membership
Exclusive access to Gold Card Events - select concerts, shows, major sporting events, and more
Purchase Protection covers loss, theft, and damage of eligible items within 90 days of purchase
Redeem Membership Rewards® points for an exclusive array of travel, shopping, dining and entertainment rewards.
Get approved in 60-seconds.
Read our review or apply online now at American Express's Web site.

Intro APR	Regular APR	Credit Needed	Annual Fee
No Introductory Rate Available	No APR	Good	$125

Copyright © 2006–2012 Your Credit Advisor
About | Contact | Privacy Policy | Sitemap