Parent PLUS Loan Information

The Parent PLUS Loan are unsubsidized loans for the parents of dependent students  Parent PLUS Loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods.  Southern New Hampshire University requires the FAFSA application to be completed and a student be awarded federal aid before processing a Parent PLUS Loan application. The lender is the U.S. Department of Education through the William D. Ford Federal Direct Loan Program. 

Approval for the Parent PLUS Loan is based on a parent’s good credit and the undergraduate student being enrolled at least half-time in a degree program. Your parent can complete a PLUS Request on the Department of Education’s website to apply for the Parent PLUS Loan (A parent is required to use their Parent Student Aid PIN to complete the PLUS Request).  For steps to apply, see "Ready to Apply?" below.   If a parent is denied, first and second year students (up to 59 credits) will be eligible for $4,000 in an unsubsidized Stafford Loan.   Third and fourth year students (59 credits and above) would be eligible for $5,000.

The variable interest rate is determined July 1 of every year, capped at 9 percent; repayment typically begins 30 days after full receipt and disbursement of the loan. 

There are a number of advantages in considering the Parent PLUS loan over a private student loan. As a family you should decide which loan option best suits your needs. There is no obligation to accept this loan. If your family decides to proceed with a Parent PLUS loan, the parent must complete a credit check, select a lender and complete a PLUS Master Promissory Note on or after June 1.

Ready to Apply?  Parents follow these steps:

  • Go to StudentLoans.gov,
  • Sign in (or create a new account) to “Manage My Direct Loan”
  • Choose Start PLUS Application Process
  • Select “Parent PLUS” as the Loan type
  • Follow the instructions to complete the PLUS loan application

There are a number of advantages in considering the Parent PLUS loan over a private educational loan. As a family you should decide which loan option best suits your needs. There is no obligation to accept this loan. If your family decides to proceed with a Parent PLUS loan, the parent must complete a credit check, select a lender and complete a PLUS Master Promissory Note on or after June 1.

Contact Us
 
One Stop

Office Hours
Mon-Thu: 8am - 6:30pm
Friday: 8am - 4:30pm

Phone Hours:
Mon-Thu: 8am - 6:30pm
Friday: 8am - 4:30pm

Phone: 877.455.7648
Fax: 603.645.9667
Email: onestop@snhu.edu

Location: Exeter Hall
2500 North River Road
Manchester, NH 03106