Based upon the parent's credit worthiness, they may borrow up to the student's cost of attendance minus all other aid in a Direct PLUS Loan. Please review the Federal PLUS credit criterion. A valid 2012-13 FAFSA must be completed for the student to be eligible for PLUS loan funds.

Interest Rate: 7.9%


Origination Fees: 4%


Steps for parents to obtain a 2012-2013 PLUS Loan:  
If you meet both of the criteria below you should skip to step 3. If not, please begin at step 1.
     ♦  I have already received a Parent PLUS Loan at Fordham during the 2012-13 academic year and 
         there was no endorser for my loan.
     ♦  I have NOT had a credit denial for a Parent PLUS Loan during the 2012-13 academic year.

 Step 1: Secure a PLUS credit decision:

• Go to http://studentloans.gov and sign in using your Federal Student Aid PIN (from pin.ed.gov).
• Click on the “Request PLUS Loan” link on the left side of the screen under the “PLUS Loan Process” heading.
• Select “Parent PLUS” as your loan type and complete credit check.
• Be sure to select 2012-2013 as the Award Year on Step 2
• Do NOT click the option to borrow the maximum loan amount for which you are eligible. This will cause a delay in processing in most cases.

• You may reapply using an endorser. This is done by selecting the “Endorse PLUS Loan” option after logging into http://studentloans.gov .
• You can appeal the credit decision. This is done by selecting the “Appeal Credit Decision” option after logging into http://studentloans.gov .
• Students whose parent(s) are denied a PLUS Loan become eligible for additional Federal Direct Unsubsidized Loan Funding.

Parents can choose to defer payments on a PLUS loan until 6 months after the date the student ceases to be enrolled at least half time. The interest that accrues on the loan while its in deferment can either be paid by the parent borrower monthly or quarterly, or can be capitalized quarterly. To request a deferment, call the Direct Loan Servicing Center at (800) 848-0979. Deferments will not be approved until after the first loan disbursement has been made.