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Parent PLUS Loans
A parent of a dependent undergraduate student who is
enrolled at least half-time (6 credits) may be able to
borrow a Parent PLUS Loan (Parent Loan for Undergraduate
Students) through the DL (Direct Loan) program to help pay
for educational expenses while attending Trinity Valley
Community College. The Parent PLUS Loan is based on credit
and usually requires that the parent begin repayment 60 days
after the last disbursement is received.
NOTE: TO RETRIEVE YOUR FAFSA PIN, PLEASE GO TO:
http://www.pin.ed.gov/PINWebApp/pinindex.jsp
1. Complete and Return Loan Request Form to Athens Financial
Aid Office via fax (903-675-6345), email (sfrosch@tvcc.edu)
or mail (Attention: Financial Aid, 100 Cardinal Drive,
Athens, TX 75751).
2. Complete online loan entrance counseling and E-Sign
Direct Loan Master Promissory Note at:
http://www.studentloan.gov using your FAFSA PIN. The
Direct Loan Master Promissory Note is valid for Federal
Direct (DL) Stafford Loans at educational institutions
participating in the Federal Direct Loan Program for a
period of 10 years.
Your Parent PLUS Loan application will authorize a credit
check by Trinity Valley Community College. If your parent
doesn't pass the credit check, he/she might still be able to
receive a loan if someone credit-worthy such as a friend
agrees to co-sign the loan. A co-signer promises to repay
the loan if the borrower fails to do so.
If the parent does not pass the credit-check, then the
student may be eligible for up to an additional $4000
unsubsidized loan.
How much can my parent borrow?
The yearly limit on a Parent PLUS Loan is equal to your cost
of attendance minus any other financial aid you receive. If
your cost of attendance is $6,000, for example, and you
receive $4,000 in other financial aid, your parent can
borrow up to $2,000.
Who gets my Parent PLUS Loan money?
Once approved and awarded (e-signed MPN and credit check
passed) the PLUS loan will be applied to the student’s
Trinity Valley Community College account and if the student
owes any money to the college, it will be taken out of the
loan. Any credit balance leftover from the PLUS loan will be
mailed to the parent via paper check.
IMPORTANT NOTE: If the parent wants the credit balance to be
given directly to the student, he/she must complete the PLUS
Loan Authorization Form.
What's the interest rate?
Parent PLUS Loans are currently at a fixed rate of 8.5%.
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