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PLUS Loans are not based on financial need. In addition, to
be eligible for the loan, parents must not have an
"adverse" credit history as defined by federal
regulations. For each child enrolled in school, parents may borrow
up to the full cost of attendance each year minus any other
financial aid that the student receives.
When you apply for the PLUS Loan, CFI will obtain a credit report. The credit
result will be used for final approval of your loan provided both a fully
completed promissory note and school certification are received within 90 days.
If either the promissory note or school certification are received outside
this time frame, CFI will request a new credit report.
To borrow a Parent PLUS Loan from College Foundation, Inc. (CFI), the prospective borrower must have a North Carolina Connection
as well as meet federal loan requirements. The required connection is established by the parent meeting at least one of the following:
You are:
- A resident of North Carolina; or
- Borrowing for a student who is enrolled, or accepted for enrollment, at a North Carolina college or university eligible to participate in the Federal Family Education Loan Program; or
- A previous CFI borrower; or
- A current or former participant in the North Carolina 529 college savings plan; provided that, the savings account was active on or before June 1, 2008 and not closed due to a rollover to another qualified tuition program; or
- Borrowing for a student who is a current or former beneficiary in the North Carolina 529 college savings plan; provided that, the savings account was active on or before June 1, 2008 and not closed due to a rollover to another qualified tuition program.
You may check out the loan
interest rates.
You may submit your PLUS Loan application online, or,
download and print an application and send it to CFI.
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