Low-interest student loans that must be repaid after you graduate or drop below half-time enrollment.
What is a PLUS Loan?
Plus Loans are loans that parents borrow to help pay for their dependant student's educational expenses. The dependant student must meet all federal aid eligibility requirements in order for the parent to borrow a PLUS Loan. See the 'How is my Eligibility Determined' page for more details.
The annual borrowing limit is the student's estimated cost of attendance minus other financial assistance. Fees of up to 4% are deducted from the loan amount. The PLUS Loan interest rate is a fixed interest rate of 6.84%. The parent borrower may begin repayment 60 days after the loan is fully disbursed, or, for loans disbursed after July 1, 2008, the parent borrower has the option of postponing repayment until six months after the dependant student on whose behalf the loan is made graduates or drops below half-time enrollment.
How Do I Apply for a PLUS Loan?
1. Complete the pre-approval process through the Department of Education here.
2. Complete the Dalton State PLUS Loan Certification request. This form needs to be completed so that our office knows how to distribute the loan funds.
PLUS Loan borrowers generally need to go through a credit check. If the parent is denied the PLUS Loan, the dependant student may borrow up to $6,000 in Unsubsidized Stafford Loan funds at the freshman and sophomore level, and up to $7,000 at the junior or senior level.
Questions should be directed to Sherry Breitweiser, Dalton State College's Student Loan Coordinator.
Private or alternative loans are available, but they should be your last resort. Take advantage of all federal and state aid programs before you consider private loans.They often have high interest rates or require a creditworthy cosigner. If you are not eligible for federal or state financial aid these programs are an alternative source of funding. Make sure you do your research before selecting a lender.
The following list is designed to assist students in identifying Private Educational Loans that are available to students at Dalton State College. The College does not necessarily endorse any of the following lenders and is providing the information in the public interest. Students should proceed with caution and should be extremely careful while accessing Private Loan opportunities.
Should you wish to consider a Private Loan, you should contact the following Private Loan organizations to inquire about the terms and conditions of their particular Private Loan. When you have selected a Private Loan lender, you will apply online through that lender’s webpage. Upon approval of the loan application, the lender will notify DSC for any additional information needed. In some cases, a co-borrower will be necessary to qualify.