PLUS LOAN PROGRAM
The Federal PLUS Loan Program offers long-term education loans to qualified parents or legal guardians of dependent undergraduate students. The parent borrower and the student must be U.S. citizens (including U.S. Nationals or permanent residents of the Trust Territory of the Pacific Island, Guam, and the Northern Mariana Islands), or eligible non-citizens. A student must be a dependent undergraduate student attending an approved school on at least a half-time basis, in a program leading to a degree or certificate, make satisfactory academic progress as established by the school; and meet Selective Service registration requirements. The parent borrower must be an Illinois resident or must be borrowing on behalf of a student attending an approved Illinois school. There are other stipulations regarding amounts, interest rates, insurance premiums, approved schools, lenders, etc. For more information concerning federal or state scholarships, contact the Illinois Student Assistance Commission, 1755 Lake Cook Road, Deerfield, IL 60015-5209 or phone 1-800-899-4722. Also, contact your guidance counselor or institution financial aid office for more details.
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