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Corban University

Federal Parent Loan

Up to the cost of attendance

The Federal Parent Loan for Undergraduate Students (PLUS) is a loan that can be taken out by parents of dependent undergraduate students.

Application Process

Requirements

  • All dependent undergraduate students
  • Not need-based

About this Loan

A PLUS loan must be applied for by the parent of a dependent student. Loan funds are disbursed to the student’s account in halves each semester. Payment terms can be chosen at the time of application. A loan fee of 4.236% will be withheld from the amount borrowed, and interest will begin after the first disbursement.

  • Credit decisions are based on recent credit history, not debt-to-income ratio.
  • Loan comes with a fixed 7.08% interest rate.
  • If the parent is denied the PLUS loan due to credit, the student qualifies for additional federal Unsubsidized Direct Loans ($4,000 for Freshmen and Sophomores and $5,000 for Juniors and Seniors).

Learn more about PLUS loans.

Questions? Don’t hesitate to reach out to Financial Aid at financialaid@corban.edu or 503-375-7006.