Parent Loan Information
This loan program offers non-need based loans to assist parents of dependent students. For loans disbursed after July 1, 2019, the interest rate is fixed at 7.08%. The maximum FPLUS amount that may be borrowed equals the difference between the cost of attendance and any other financial aid the student is receiving. In no case may the FPLUS loan exceed a student's cost of attendance minus estimated financial assistance. These loans are subject to a credit review. Once the online Promissory note is completed, Roanoke College will certify the student's expenses.
Are you curious what your loan payments may be? Check out Finaid's loan repayment calculator. You will have the ability to manipulate figures so you can determine just what your payment will be when you enter into repayment. (Loan Repayment Calculator)
Parent PLUS Loan Instructions
If you are interested in applying for a Federal PLUS Loan, you must click on the link above. You will have to complete the Loan Agreement and Master Promissory Note online. You will receive notification from the Department of Education within 24 hours as to the status of your request.
Previous Borrower Parent PLUS Loan Request Form
If you have borrowed a Direct PLUS loan previously, this form must be completed and returned to the Financial Aid Office. You must access this form using the link above. You will have to print it out, complete and sign it. For a faster response, the form may also be submitted online (see Parent PLUS Loan Instructions above). Electronic filers will receive a response to their request from the Department of Education within 24 hours of their submission.
PLUS Loan Pre-Approval Are you interested in finding out if your parent would be approved for a PLUS Loan? All you have to do is click on the link above and complete the requested information. A credit report will be obtained and reviewed. Please note that the results of this credit inquiry are good for 90 days. Therefore, pre-approval requests for next academic year should be made after June 1st.
National Student Loan Database System (NSLDS)
All Title IV, HEA Loans (Federal Stafford Loan, Federal Perkins Loan, Federal PLUS Loan) will be submitted to NSLDS and will be accessible by guaranty agencies, lenders, and institutions determined to be authorized users of the data system. It is important for all potential students, students or parents of students to recognize this and be aware that their loan information may be shared. Borrowers are encouraged to monitor their loan indebtedness by checking their account regularly. Loan servicing information is also available by accessing this site.