Federal Family Education Loan Program
Eligibility for loans is determined when a student completes the Free Application for Federal Student Aid (FAFSA). A student who has been determined eligible for a student loan and wants to apply for a Subsidized Federal Stafford Loan or Unsubsidized Federal Stafford Loan can obtain a loan application from a participating financial institution or the college or university they plan to attend. It is best to ask the school's financial aid office how they want you to apply for the loan.
Parents of a dependent student may also apply for a Federal PLUS Loan to help meet the student's educational expenses. The Federal PLUS Loan Program is not a "need-based" loan program. Parents may borrow up to the cost of education minus any other type of financial aid the student is eligible to receive. Parent PLUS borrowers must pass a credit check.
Graduate and professional students may also apply for a Federal PLUS Loan to help meet their educational expenses. The graduate PLUS borrower must apply for their maximum Stafford Loan first. The PLUS Loan amount the student may borrow is cost of education minus other financial aid. Graduate PLUS borrowers must pass a credit check.
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