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Part of the Federal Family Education Loan Program, the Parent Loan for Undergraduate Students (PLUS) is a credit-based loan program designed to help your parent or guardian pay for your college education.
Is your parent ready to apply?
Your parent must complete the Parent PLUS pre-approval process as the loan will be issued to them. They can click on the button below for a quick pre-approval decision to get started.
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Fixed Interest Rate and 0.25% interest rate reduction with Edamerica
America truly is a land of dreams, and a college education is still the vehicle that drives the American Dream. Parents have dreams too. That's why Edamerica offers a fixed interest rate of 8.5% and 0.25% auto-debit rate reduction on parent loans for undergraduate students. The following borrower benefits are effective for loans first disbursed on or after May 15, 2008. Conditions apply.
- 0.25% interest rate reduction for auto-debit and on-time payments
- Instant credit decision and easy online application
- Flexible repayment options
- Full payment deferral for up to four years while your student is in school
- Interest may be tax deductible
- There are no income or collateral requirements
- You may be eligible for more savings depending on your state and school. Select the state in which you will attend school to see a complete listing of benefits.
Eligibility for a PLUS Loan
PLUS Loan is available to parents of dependent, undergraduate students. An eligible parent borrower is a dependent student's natural or adoptive mother or father. The spouse of a parent who has remarried is an eligible borrower if his/her income and assets were taken into consideration when completing the Free Application For Federal Student Aid (FAFSA).
You must be a U.S. Citizen, U.S. national or eligible non-citizen to qualify. Credit guidelines will apply in determining your eligibility. You are eligible for a PLUS Loan for each child who is enrolled at least half-time in school and meets the school's standards for satisfactory academic progress. Eligibility for PLUS Loans is not based on need or income.