Through the Federal PLUS Loan Program, parents of dependent students may borrow up to the cost of education less any other financial aid received by the student.

To apply for a Parent PLUS Loan, a parent must:

• complete the FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA)
  
  
• initiate a Federal PLUS Loan application. If you choose one of ourcommended lenders,  simply call AES/PHEAA at 1-800-692-7392, or visit their website at www.aesSuccess.org.
  
  
• complete a Master Promissory Note (MPN); After “applying” as instructed above, the MPN will be sent to you to sign; or you can sign on-line at the www.aesSuccess.org website.

The Federal Parent PLUS Loan is a credit-based loan with a fixed interest rate of 8.5%, with default and origination fees of 3%. Students must be enrolled at least half-time in a degree-seeking program for parents to access a PLUS loan.

If a parent is denied a Parent PLUS Loan the student will automatically be considered for an additional unsubsidized Stafford loan in the amount up to $4,000 for freshman and sophomores and $5,000 for juniors and seniors.

Borrowers may choose any participating lender when borrowing through the federal loan programs. In order to assist students who would like guidance in selecting a lender, we have developed a list of recommended lenders. Our recommended lenders are guaranteed through AES/PHEAA. We encourage you to compare lenders and choose those whose repayment, services and benefits meet your need.

To access SRU's loan comparison information, click HERE.

If you choose not to borrow from an SRU recommended lender, you can find a list of all AES/PHEAA Keystone Best Lenders and a National Lender list at http://www.aessuccess.org. Once again, borrowers may choose any lender, even lenders not identified on the recommended lender list.

For additional information about the Federal PLUS Loan, students can click here .