<p>How does eligibility work for these loans. The reason I ask is because a school that my son will not be attending included a Fed Parent Plus Loan in the Financial Aid package...but the school he will be attending did not. Does that mean we cannot apply for this type of loan...is it school dependent? If the school does not list it does it mean we need to apply for a private loan?</p>
<p>If he can apply...how do we do it? ...and when is the deadline?</p>
<p>I am soooo confused...</p>
<p>Thanks</p>
<p>I think you can still apply for a Plus loan anyway. </p>
<p>[Student</a> Aid on the Web](<a href=“http://studentaid.ed.gov/PORTALSWebApp/students/english/parentloans.jsp]Student”>http://studentaid.ed.gov/PORTALSWebApp/students/english/parentloans.jsp)</p>
<p>I think there’s a way to apply online.</p>
<p>How much can my parents borrow?</p>
<p>The yearly limit on a PLUS Loan is equal to your cost of attendance minus any other financial aid you receive.</p>
<p>I think so, too, I cross out PLUS on my older son’s FAFSA last year and in previous years, but he decided to take a couple summer classes and I’m cash poor right now so I quick agreed to a small PLUS loan and I filled out and did the promissary note from SallieMae. The college sent my son a short one page form to fill out and attach a copy of his class registration (which they needed to get SallieMae to release the funds) , but it was painless so I do believe you can go back or get a PLUS regardless of what is/was on your finaid form or if you crossed off PLUS but decide later to access loan funds. After checking with our bank, the interest rate is comparable to a bank loan or accessing a line of credit, but the process is greatly simple so it was half dozen one or the other to me.</p>