This is a federal credit-based loan which parents of a dependent student may borrow to help with the cost of education. Parents may be eligible to borrow up to the total cost of attendance minus other aid received. A parent is defined as a student’s natural mother or father, adoptive parent, or stepparent. A parent with an adverse credit history may be denied a PLUS Loan. This is a fixed-interest-rate loan at 8.25%. The loan program and guaranteed fund authorizes an origination fee of 3% of the principal to be charged to the borrower. This loan is also unsubsidized, so interest accrues from the date of origination and is the responsibility of the parent borrower. Each year, the parent needs to complete a PLUS Credit Decision Request and the Loan Request Form. The parent needs to complete the PLUS Master Promissory Note only once, unless the parent decides to change his or her lender. These are available online at www.FHCHS.edu or at the Financial Aid Office and must be certified by the Financial Aid Office while the student is enrolled. The parent also needs to provide proof of U.S. citizenship or permanent resident status.

The Financial Aid Office will notify the parent when the funds have been credited to the student’s account.

Parents are not eligible for Federal PLUS loans while their student is on Provisional admission status. Students on Probation will become eligible during their second trimester if they achieve a 2.00 GPA and have successfully completed 60% of the credits attempted. In most cases, the loan will be retroactive to the beginning of the first trimester.