Parent PLUS Loan
The Financial Aid Office encourages parents to consider applying for the Federal Direct Parent PLUS Loan before seeking funding through a private loan.
Federal Parent Loan for Undergraduate Students (PLUS Loan) provides government-insured, long-term, low-interest loans for eligible parents of dependent, undergraduate students who do not qualify for other financial assistance. Parents may borrow up to the total cost of their dependent student's education minus any other aid for which the students are eligible.
PLUS loans are available to parents with good credit histories through the FFEL program.
Candidates: Parents of Dependent Undergraduate Students
Loan Maximum: The yearly limit on a PLUS Loan is equal to your cost of attendance minus any other financial aid you receive. If your cost of attendance is $6,000, for example, and you receive $4,000 in other financial aid, your parents can borrow up to $2,000.
Parent Plus Loans and Refund Checks:
Parents applying for the PLUS loan please note that when completing the on-line application you will be presented with the option to have any credit balance sent to the student, however Kean University has an institutional policy that prohibits excess funds as a result of the PLUS loan from being sent to the student. Any PLUS loan anticipated refund will be sent to the parent regardless of the option selected on the PLUS application. Feel free to contact the Office of Financial Aid with any questions.
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