Parent PLUS Loans

Federal Parent PLUS Loans can be borrowed by parents to help fund the cost of education for their dependent, undergraduate students. 

LOAN UPDATE for 2009 – ’10 School Year:
As you may know, multiple student loan lenders have exited the marketplace due to the recent student loan crisis. As a result, Student Lending Works has experienced a dramatic increase in the demand for our loans leading to the depletion of our tax-exempt funding, which is how we typically finance our low-cost loans.  

In order for us to continue making loans to you, we have entered into a short-term financing agreement with the U.S. Department of Education to ensure we have adequate funding for loans in the upcoming academic year. Other lenders have entered into these agreements as well. Based on the agreement with the U.S. Department of Education, the only discount they will support is:

  0.25% interest rate reduction for making payments       automatically with a checking or savings account.

Although we are currently facing unusual times, we pledge that once our tax-exempt funding becomes available again, you will be among the first in line to receive our superior discounts for the next academic year. 

This change will not affect loans you might have previously taken out with us or our commitment to the personalized customer service and individual borrower counseling you can expect to receive from Student Lending Works, the State of Ohio’s designated nonprofit student loan lender.  

Eligibility:

To be eligible for a Parent PLUS Loan, you must:

• Be a natural, step, or adoptive parent of a dependent student.
• Be a U.S. citizen or eligible non-citizen with a valid Social Security number.
• Meet the requirements of a credit evaluation.

To be eligible for a Parent PLUS loan your student must:

• Be enrolled in school at least half-time.
• Be classified as a dependent student.

Parent PLUS Loan Rates and Terms

Other Benefits :

• Fixed rate as low as 8.25% with discounts
• Ability to pospone payments while student is in school
• Borrow up to 100% of the cost of attendance, including tuition, room and board, books and supplies

Due to certain licensing requirements, Student Lending Works does not offer loans to residents of North Dakota.

Note: Student Lending Works reserves the right to change the terms and conditions of our loan programs at any time without notice. Your benefits will not be affected if your loan has already been disbursed.