Presentation on the Federal Parent plus Loans- Stanford University

The national plus program is a familiar financing option for p arnts of dependant undergraduate students. The imparts are borrowed in the parents own name. The details involved are give amount up to the wide-eyed amount skunk be borrowed. The cost include tuition, room & board, payment for books, personal expenses, and transport.Credit qualification borrowers lead need to meet a token(prenominal) requirement to be able to apply. For instance, a quotation check is conducted. Parents who dont qualify whoremaster borrow supererogatory federal Stafford student loan funds. by-line rate a fixed rice beer rate of 8.5% is charged if loans are borrowed afterward July 1st. Loan tilts 3% original tippytoe and a federal default fee of up to 1% will be deducted from each disbursement of your loan.Disbursements it will be through with(p) in thirds at the offshoot of each academic quarter. Funds are disbursed directly to Stanford via Electronic funds murder and applied to yo ur students University bill. A refund can be tending(p) if your disbursement exceeds the balance due. Repayment done after 60 days of in full disbursement. Repayment is 10 years.The plus loans are funded by private lenders like banks and credit unions. The federal government sets the limits on fees, spare-time activity rates and tokenish deferment options. Lenders however offer more benefits beyond minimum government requirements. When re-applying, the same lender can be used.How to applyThe following locomote are followedGo to the link https//www.nela.net/hosted/stan1.aspx to supplicate for the loan. You can specify the amount you hope to borrow. The link is easy to use. In 2-4 weeks, an electronic mail from Sallie Mae, the Company 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 subscribe by electronic signature. If the email is not received, check for y our promissory note on Stanfords OpenNet page.For inquiries, you can call our loan processing agency, Northwest Education Loan Association (NELA), toll-free at (800) 979-4441. Be sure to identify yourself as a Stanford parent requesting a PLUS loan.REFERENCES federal Parent PLUS Loans, http//www.stanford.edu/dept/finaid/loanprocessing/plus.html viewed on tertiary April 2008.