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The Parent-Plus Loan Current Criteria Potentially Creates Disadvantage for Black Student Applicants

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Submitted By stephaniechioma
Words 2016
Pages 9
Attending college is both an exciting experience, but also a nerve-wrecking one. Sure, one are finally able to be “free” and live life with no parameters, but it is a storm brewing over the horizon that one has no idea about. Not only does she have to get adjusted to life on campus, she also has to make sure her classes are paid for and budget the remainder of the money she has left after everything is paid for.
Students can pay for college in many different ways. Students can pay with grants and scholarships, which is money she does not have to pay back upon graduation, and then there are loans. You have subsidized and unsubsidized loans, private loans and the highly controversial parent-plus loans.
What is a parent plus loan?
A parent-plus loan are federal loans that graduate or professional degree students and parents of dependent undergraduate students can use to help pay education expenses. In order to receive a Direct PLUS loan, you (or your child, in the case of parent PLUS loan borrowers) must complete the Free Application for Federal Student Aid (FAFSA®). The school's financial aid office will provide instructions about their process for requesting a Direct PLUS Loan. Many schools require that you request a Direct PLUS Loan at StudentLoans.gov. The request form has a list of schools that participate in the Direct PLUS Loan program; if you select your/your child’s school from the list, the site will notify you if your school does not use the StudentLoans.gov process. If that is the case, you should check with the school to find out how to request a PLUS loan. In order to apply for the loan, In order to receive a Direct PLUS loan, you (or your child, in the case of parent PLUS loan borrowers) must complete the Free Application for Federal Student Aid. The school's financial aid office will provide instructions about their process for requesting a Direct

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