My parent was denied a PLUS loan. Will this effect the rest of my aid?

Paying for College
1

<p>My aid package consists of stafford loans, a few grants, B-on-time loan, and PLUS loan. When my parents tried to complete the PLUS loan award online, they were directed to their lender's site where their credit was checked. They have been denied a PLUS loan, but I already did the calculations and even without the PLUS loan, I still have enough aid money to cover room, board, and books. </p>

<p>Will their denied PLUS loan application have an effect on the rest of the aid I will recieve? What I mean is, when the rest of my aid disemburses, will I only be short the amount of money I would receive with the PLUS loan? If so, then I don't mind as long as I have enough money for the year - which I will have. I just want to make sure that the rest of my aid will disemburse.</p>

<p>Oh and off topic, but still on the subject of financial aid: Do I need to fill out anything special for the B-on-Time-Loan? It is part of my aid package and I did accept it. But other than e-signing for my stafford loans, my school's financial aid website doesn't list anything else I need to do. I just want to make sure I am doing everything properly before aid is disembursed, so that I am able to pay for everything.</p>

2

<p>No, your parent’s refusal should not negatively affect the rest of your package. If you report it to your school they will likely offer you an additional $4K in unsubsidized Stafford loans.</p>

<p>Have no idea what a B-on-time loan is - something specific to your college maybe? Check with your FA dept or check your online FA status to see if it has a hold for paperwork. Btw, make sure you know the interest and terms on this loan so you can decide if it’s better to take the extra unsub Stafford.</p>

3

<p>The Texas B-on-time loan is a loan with 0% interest and can be forgiven upon graduation if you graduate in 4 years with a 3.0 gpa or higher.</p>

<p>Thanks for your help!</p>