Parent Plus Loans

All parent plus loans have a mandatory 3% origination fee required by the Department of Education.  The 1% default fee may or may not be paid by the lender. The annual fixed interest rate is 8.5%.  To apply for a Parent Plus loan please go to American Student Assistant (Guarantor Agency).

FFELP PLUS loans are available for dependent (Under 24 years old) undergraduate students who have not exceeded their budget.  A PLUS loan is an option available to parent(s) of dependent undergraduate students to offset the cost of his/her educational expenses. To be eligible for the PLUS loan, the student must have completed a FAFSA and be eligible. To receive federal aid, the parent must pass a credit check and meet citizenship requirements. Additional information is available in the STUDENT GUIDE. Once at the website you will need to select the aid year and language of preference.

• To initiate a FFELP PLUS loan the parent must login and establish an account with American Student Assistance at www.amsa.com/direct.  You may also call 1(800)999-9080, select option 1 and apply over the phone.
• The parent will either need to complete a master promissory note electronically on the website or a paper promissory note which must be mailed in before the loan money can be disbursed.
• The results of the credit check will be automatically generated to Southern Polytechnic State University for processing.
• If the application is denied, the student is then eligible to receive additional Federal Unsubsidized Stafford Loan Funds. The loan funds will be added to the existing award found on the students' Banner Web account where they can be accepted under the Financial Aid Award Letter. Please visit the STUDENT GUIDE for Subsidized and Unsubsidized loan limits.