Can a parent borrow money on behalf of a student?
Yes, a parent can take out a loan if they have a good credit history and are using it to help pay the educational expenses of an undergraduate, dependent student who is enrolled in at least 6 credits. The Parent Loan for Undergraduate Students (PLUS) is a low interest loan offered through the Federal Government, in partnership with private lenders. Please see our current Information Guide on our homepage for the most current interest rate information. Repayment begins 60 days after the last disbursement, but the parent may qualify for a deferrment if the student remains enrolled for at least 6 credits. For more information and an application, please select “Plus Loan Request & Questionnaire” from the following Web site: http://www.montana.edu/wwwfa/forms.html You may mail or fax your application to the Office of Financial Aid Services, PO Box 174160, 183 Strand Union, Bozeman, MT 59717-4160. Our fax number is (406)994-6962. If you have further questions, please call us at (406)994-2845
