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PLUS loans are available for graduate and professional degree students who are enrolled at a minimum of half time. Parents of dependent undergraduate students are also eligible for a PLUS loan.
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Is minor eligible for loan against deposit?
No. Minors are not eligible for loans as individuals. The only loan they are eligible for is an educational loan, that too will be granted only if an earning family member applies for the loan as a joint applicant. Loans are usually granted only to individuals who have an income and have the capacity to repay the loan.
Does ACS offer different repayment options for loan consolidation offers?
ACS limits the types of consolidated loans that are eligible for an Income Based Repayment (IBR) loan. Any consolidated loan that include a defaulted loan, a private or alternative education loan or Parent Plus loan, are excluded.
How does the Department of Education effect loan consolidation?
The Department of Education determines which students are eligible for a loan consolidation. One can apply onto their website to see if they are eligible.
Can a parent be approved for a federal parent plus loan in currently they are in a chapter 13?
Since PLUS loans are based on the parent's credit, most lenders will not pre-approve a parent that is in chapter 13. However, if the parents do apply and are denied a PLUS Loan, the student will then be eligible for additional unsubsidized Stafford Loan funds (currently as much as $4000.00 more per school year).
How financial institutions affect households and business?
Financial institutions have affected households and businesses by determining who is eligible for a loan. For example, if someone is not approved for a loan, they would be unable to buy a home or a car.
What banks offer the college plus loans package?
The college PLUS loan is a federal student aid loan not offered by any bank. To be eligible for a PLUS loan, you must be a graduate or professional degree student enrolled at least part-time with an eligible school in a program leading to a degree or certificate.
Is income contingent repayment plan is available for direct plus graduate or professional borrowers?
As of July 1, 2009, graduate and professional student Direct PLUS Loan borrowers are eligible to use the ICR plan. Parent Direct PLUS Loan borrowers are not eligible for the ICR repayment plan.
Who's eligible for a VA-backed loan?
Veterans are eligible for a VA-backed loan. Veterans who were released are also eligible for VA-backed loan.
How to Get a Parent PLUS Loan?
What is a Parent PLUS Loan?A Direct Parent PLUS Loan is a loan that is available for eligible parents of dependent students to pay for education expenses. A Parent PLUS Loan is available to cover the remaining amount of a student's cost of attendance after any other financial aid that the student is awarded. These loans are beneficial because of their relatively low and fixed interest rates of 7.9 percent. However, these loans do charge interest from the date that the first payment is disbursed until the loan is paid off.Who is Eligible for a Parent PLUS Loan?To be eligible to receive a Parent PLUS Loan, an individual must be either the student's biological parent or the adoptive parent. Some special cases allow for a student's stepparent to be eligible to receive a Parent PLUS Loan. The parent must meet certain credit history criteria, but a parent with a bad credit history is still eligible to receive the Parent PLUS Loan if a friend or family member co-signs for the loan. The student must be the Parent PLUS Loan receiver's dependent and enrolled in undergraduate school least half-time. Additionally, both the student and the parent need to be U.S. citizens or eligible permanent residents to qualify for the loan.How do you Apply for a Parent PLUS Loan?To apply for a Parent PLUS Loan, the parent needs to fill out a Direct PLUS Loan application. The parent also has to complete a Master Promissory Note, which is a legally-binding contract that requires the signer to repay the loan, interest and fees in full. A parent must submit a new loan request each year that the student requires funding for school, but the Master Promissory Note is typically sufficient for subsequent loans. The application and Master Promissory Note can be completed online at www.studentloans.gov. Once the department approves the loan, the payments are disbursed to the student's school. After the school has deducted the costs of tuition, room and board and any other charges, the school issues a check or direct deposit to the parent. The remaining funds must be used for purposes related to the student's schooling.
Can a loan calculator tell me if I am eligible for a loan?
There are calculators out there in the internet that can tell you if you are eligible for a loan. One calculator that is reliable is http://www.hdfc.com/applications/calc_ComputeLoanEligible.asp
Does ACS offer different repayment options for loan consolidation offers?
ACS limits the types of consolidated loans that are eligible for an Income Based Repayment (IBR) loan. Any consolidated loan that include a defaulted loan, a private or alternative education loan or Parent Plus loan, are excluded.
Is minor eligible for loan against deposit?
No. Minors are not eligible for loans as individuals. The only loan they are eligible for is an educational loan, that too will be granted only if an earning family member applies for the loan as a joint applicant. Loans are usually granted only to individuals who have an income and have the capacity to repay the loan.
If you cosign a student loan will you still be eligible for a student loan for yourself?
YES
How does the Department of Education effect loan consolidation?
The Department of Education determines which students are eligible for a loan consolidation. One can apply onto their website to see if they are eligible.
Can a parent be approved for a federal parent plus loan in currently they are in a chapter 13?
Since PLUS loans are based on the parent's credit, most lenders will not pre-approve a parent that is in chapter 13. However, if the parents do apply and are denied a PLUS Loan, the student will then be eligible for additional unsubsidized Stafford Loan funds (currently as much as $4000.00 more per school year).
How financial institutions affect households and business?
Financial institutions have affected households and businesses by determining who is eligible for a loan. For example, if someone is not approved for a loan, they would be unable to buy a home or a car.
Can you apply for an undergraduate student loan after dropping out of a previous undergraduate study at a different university with all debts withstanding?
You can find out whether you are still eligible for a student loan using this: http://www.studentfinance.direct.gov.uk/calculator/studentfinancecalculator/ You might still be eligible for a maintenance loan but probably not a tuition fee loan.
