<p>We have been denied for the parent plus loan. Will that show in the award letter? What will our son be eligble for now? thanks for your help.</p>
<p>IIRC, your student will be eligible for additional unsubsidized Stafford loans. I think he can borrow the same amount an independent student could, which is 9500 as a first year student (so an additional $4,000).</p>
<p>Who did you go through for the Plus Loan? If you go through UA and the Federal Govt it’s almost impossible to be turned down.</p>
<p>Usually you wait until after the award letter before applying for the Plus loan. That way you know how much you can borrow. </p>
<p>I’d call financial aid and talk to someone there about your options.</p>
<p>^^^</p>
<p>That’s not really true. While the standards are relaxed for Plus loans, parents are denied all the time. That’s why there is the fall back of students being able to borrow the additional $4k. </p>
<p>this family may have already have a FA package from another school which is why they’ve already tried to get a Plus Loan. They won’t have a different result applying for one thru another school. </p>
<p>kdk…I mentioned in your other thread a strategy for perhaps improving your child’s chance for getting some kind of merit consideration. It may be a long-shot, but it won’t hurt to try.</p>
<p>Mom I realize some can get turned down. But some people try to go through a private lender instead of directly from the Fed govt. Private lenders are much stricter in their requirements. </p>
<p>I guess it’s possible they may have received an award letter but it seems pretty early in the process for those to have been sent.</p>
<p>Any way I still recommend they call the UA financial aid office and speak to a FA counselor and not just to someone that answers the phone.</p>
<p>I think you’re confusing Parent Plus loans with private loans. The OP applied for a federal Parent Plus loan.</p>
<p>Well a brief search clears up my confusion. Because when I applied last spring there were several options for Plus loans. According to this that stopped this past July. I didn’t realize it changed, my apologies,</p>
<p>“Note: Before July 1, 2010, Stafford, PLUS, and Consolidation Loans were also made by private lenders under the Federal Family Education Loan (FFELSM) Program. As a result of recent legislation, no further loans will be made under the FFEL Program beginning July 1, 2010. Instead, all new Stafford, PLUS, and Consolidation loans will come directly from the U.S. Department of Education under the Direct Loan Program.”</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>thanks for the responses we applied for the federal parent plus loan and were denied. We unfortunately had to file bankruptcy last year due to medical bills. But our efc is still 9k. He has been accepted to 3 other schools we are waiting for all the packages. But Bama has been his dream school since he was little. We are hoping it all works out.</p>