Federal Direct Parent Loan (PLUS)
- We request that parents do not apply for the PLUS loan until after May 1 prior to the year the student will attend (i.e. May 1, 2013 for 2013-2014 academic year). This ensures that the credit check on the PLUS application does not expire.
- A parent is the borrower.
- Parent must pass a credit check.
- The Loan will be disbursed evenly between the fall and spring semesters unless otherwise noted on the students award. These funds are sent directly to the college and applied to the students charges. If the loan creates a credit balance, the business office will issue a refund within 14 business days.
- The interest rate for new PLUS loans is a fixed rate of 6.31% for the 2016-2017 year.
- Loan funds are sent to the school by the U.S. Department of Education (USDE).
- Yearly limit is equal to the student's Cost of Attendance minus any other financial aid received by the student.
- Loans where the first disbursement is made on or after October 1, 2016 will have a fee of 4.276%.
- Parent may cancel all or a portion of the loan within 14 days after the date the school has sent notification that the loan funds have been credited to the student's account. Contact the Office of Financial Aid to cancel the loan.
- Interest is charged from the date the first disbursement is made until the loan is paid in full.
How to apply for a Parent Plus Loan
Parents wishing to apply for a Parent Plus Loan must complete a Master Promissory Note, PLUS Loan Entrance Counseling as well as requesting a Direct Plus Loan. All steps can be completed at the links below.
Loan Account Information
If you have been dismissed, withdrawn or graduated from Stevens you are required to complete a Stafford Loan Exit Interview to make you aware of the terms and conditions of your repayment. You may do so at the link below.
The link below will provide you with information regarding your loan balance here at Thaddeus Stevens College as well any other loans you may have had. You can use this link to determine who your serviceris. Once you know your servicer, you can select the Direct Loan Servicers link below to access your account.
The Links below offer services to earn FREE money towards their student loans!
The link below provides information on money management, credit card information, repayment options, budgets and many more helpful tools.
Before you consider an alternative loan, make sure you have determined your eligibility for Federal Direct Stafford Loans and Federal Direct PLUS Loans. After looking at the federal loans, you can consider other options for educational financing to assist you in meeting college costs. Several programs are available for your consideration. Loan terms vary, so you will want to be a conscientious consumer.
The Office of Financial Aid provides borrowers with a list of preferred lenders. These lenders have established themselves as quality institutions based upon efficiency in loan servicing, responsiveness to questions, quality of servicing, and borrower benefits. The lender you choose is a very important step in the loan process. Although Thaddeus Stevens College of Technology’s Office of Financial Aid provides a preferred lender list, borrowers are free to choose any lender. Borrowers will not be denied or caused any unnecessary delay in certification for choosing a lender not on our recommended list.
The Office of Financial Aid meets with lenders on a regular basis to examine new products, services and benefits for our students to make sure we are providing the best options.
The Loan will be disbursed evenly between the fall and spring semesters unless otherwise noted on the students award. These funds are sent directly to the college and applied to the students charges. If the loan creates a credit balance, the business office will issue a refund within 14 business days.
If you wish to apply for an alternative loan using one of our preferred lenders, please select the bank you wish to use from the link below and follow the step to apply.