Federal PLUS Loans
Disbursement Schedule
PLUS Loan checks
Interest
Repayment
Deferment
Forbearance
Loan Consolidation
The Parent Loan for Undergraduate Student (PLUS) is a loan that parents can get to pay for dependent undergraduate student's education expenses. PLUS loans are unsubsidized. Parents must have no adverse credit history and pass a credit check. They must also meet some of the general eligibility requirements for federal student aid. For example they must be citizens or eligible non-citizens and not owe a refund on a Federal grant or be in default on a Federal educational loan. The parents can borrow up to the student's Cost of Education minus all other financial aid/resources received (including Stafford Loans). For PLUS loan borrowers, the parent borrower must fill out a PLUS Loan Request form (Plus Loan request form 0809) and submit to our office either by fax, by mail, or in person.
PLUS loan disbursements always come in the form of a paper check from the lender payable to the parent borrower and Richland College. The parent borrower has to come to Richland College (with a photo ID) and pick up their PLUS loan checks. The checks have to be endorsed by Richland College at the Business Services office.
If the parent borrower cannot pick up the check, the unendorsed check can be mailed to them. For security reasons, the check will be mailed without the college's endorsement. The parent borrower will have to come to the campus in person (with a photo ID) and have the check endorsed by Business Services. Please contact Business Services at 972-238-6206 to schedule an appointment to have the check endorsed.
Registration and Attendance
- The student must register for at least 6 credit hours on or before the 12th class day of each Fall and Spring semester. Financial aid is not provided for classes added after the 12th class day of the 16-week semester.
- The student must be certified by their instructors as attending at least 6 credit hours, in order to be eligible for Stafford Loans and PLUS loans. If classes are NOT CERTIFIED or certified as NOT ATTENDED, students cannot receive financial aid (including grants, loans, work-study) of any kind.
- For students taking FAST TRACK classes, Plus loan funds CANNOT be released until at least 6 credit hours has been certified ATTENDED.
- The student must have registered for 6 credit hours on or before the 12th class day of the Fall and Spring semesters in order to receive any kind of financial aid.