Presentation on the Federal Parent plus Loans- Stanford University

The Federal plus program is a hot financing option for boots of dependant undergraduate students. The loans are repeated in the parents own name. The details involved are loan get up to the full amount slew be borrowed. The costs imply tuition, room & board, allowance for books, personal expenses, and transport.Credit qualification borrowers volition consider to meet a negligible requirement to be able to apply. For instance, a credit check is conducted. Parents who dont qualify can borrow additional federal Stafford student loan funds. Interest rate a fixed interest rate of 8.5% is charged if loans are borrowed after July 1st. Loan requitals 3% original fee and a federal default fee of up to 1% will be deducted from each disbursement of your loan.Disbursements it will be done in thirds at the beginning of each schoolman quarter. Funds are disbursed directly to Stanford via Electronic funds Transfer and employ to your students University bill. A refund can be granted if your disbursement exceeds the balance due. Repayment done after 60 old age of full disbursement. Repayment is 10 years.The plus loans are funded by insular lenders like banks and credit unions. The federal government sets the limits on fees, interest pass judgment and minimum deferment options. Lenders however offer more benefits beyond minimum government requirements. When re-applying, the same lender can be used.How to applyThe adjacent steps are followedGo to the link https//www.nela.net/hosted/stan1.aspx to request for the loan. You can coiffe the amount you want to borrow. The link is easy to use. In 2-4 weeks, an email from Sallie Mae, the connection managing our online process will be received. The email will direct you to the website where you can specify you lender and complete your promissory note which, can be signed by electronic signature. If the email is not received, check for your promissory note on Stanfords OpenNet page.For inquiries, you can call our loan to uch on agency, Northwest Education Loan Association (NELA), toll-free at (800) 979-4441. Be sure to identify yourself as a Stanford parent requesting a confident(p) loan.REFERENCESFederal Parent PLUS Loans, http//www.stanford.edu/dept/finaid/loanprocessing/plus.html viewed on 3rd April 2008.