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Parent Loans (PLUS)Parent Loans (PLUS)Parents can now borrow up to 100% of the total cost of a child's student loan for college, either for undergraduate education or graduate education, using the low Federal interest rate of 8.50% with a Federal Parent PLUS loan from American Student Loan Services. Parent (PLUS) loans aren't based on income or a financial need. Financial Experts Recommend the Parent (PLUS) Loan.Here are a few reasons why financial experts recommend the Parent PLUS loan. The Federal Parent PLUS Loan is an intelligent financial strategy, because it provides families with the total cost of college at a below-market rate and generous terms.
New! Graduate PLUS LoansSince July 1st, 2006, graduate students can receive Graduate PLUS Loans while attending graduate school. Grad PLUS Loans will have the same low interest rate as a normal Parent (PLUS) Loan of 8.50%. The Grad PLUS Loan is an intelligent financial strategy, because it provides students with the total cost of graduate school with a low Federal interest rate. Repayment terms on a Grad PLUS loan in the same a Parent (PLUS) Loan (up to 10 years). Congress has set the interest rate at a fixed rate of 8.50%. To receive additional benefits to lower the rate you can use the Federal Consolidation Program to consolidate all your Federal Student Loans into one monthly payment, including the new Federal Grad PLUS Loan. Unlike Parent (PLUS) Loans you will be able to consolidate Grad PLUS Loans with your Stafford and Perkins Loans. More About Parent (PLUS) LoansOnce you receive a Parent PLUS Loan from ASLS, we can help you obtain as many Parent PLUS Loans that you need, even for multiple children each year. A Federal Parent (PLUS) Loan allows parents to borrow up to the total cost of attendance for each year a child (student) is in school. It is not a need-based loan and more importantly, it is always available year round, even if you have already paid any or all of tuition and college expenses. The Federal PLUS Loan is an intelligent financial strategy, because it provides families with the total cost of college at a below-market rate and generous terms.
All Returning PLUS BorrowersAll parents that have received a Parent PLUS Loan from ASLS will have the convenience of PLUS Loans for future school years. Do not forget that if you have multiple children attending at once, you are not limited to one Parent PLUS Loan a year.
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