hi, first time applying for a Parent Plus loan. per SDSUs financial aid office, you won’t be able to apply for the parent plus federal loan until July 1st, yet they say fall tuition and fees are due 2 weeks prior to registration. registration for new students is during orientation in late July, that seems like too quick of a turnaround to get the parent plus loan approved and paid to the school? I hope we aren’t expected to pay it out of pocket or else I may have to donate a kidney! any info and clarification is greatly appreciated!
Why not ask the FA or Business Office directly? My S2’s school sends fall statements prior to any loans being applied and expects that we will deduct the anticipated loan proceeds and pay the rest. This may be pretty common, since federal loans are typically not disbursed until a few days before the start of the semester.
yes, I spoke to someone there but I wasn’t overly confident in their knowledge, I may have to speak to someone else and get the clear picture
As I recall, the Parent Plus loan approval process is pretty quick if there are no red flags in your credit record. Either within a few hours or a day or two at the most. The school should be advised shortly thereafter that the loan has been approved. Be sure you complete all online documentation and acknowledge the promissory note, or the loan will stay “in limbo”.