<p>My parents need to apply for PLUS loan. However, how do they know if they will qualify or not? How about if they find out that they are denied at the end of May? :O If so, then I have nowhere to go because my parents won't have the $$$!?</p>
<p>It depends on their credit, so there is no way anyone can say if YOUR parents will or will not be approved. If they are denied, there are two options: they can get a co-signer, or you can borrow up to another $4000 unsubsidized loan (that is the max you can borrow for a PLUS denial as a freshman, in addition to your $5500 sub/unsub Stafford loans that you can borrow as a dependent freshman).</p>