<p>I have searched the internet and I'm sure the answer is out there but I can't find it! I think we can make tuition payments without taking out loans, but am concerned about what might happen if we have an unexpected expense. Are there only specific times when you can take out a Parent Plus loan, or can you do it any time during the academic year? Thanks for any help.</p>
<p>I have never done one but I thought it was June or July before student enters the college for fall.
You should ask the FA Office at your child’s school.</p>
<p>Have you considered using Tuition Management Systems or similar plan?
Paying tuition for 10 months out of the year stretches it out.</p>
<p>Yes, we plan on putting some money down and splitting the rest over 10 payments. I’m sure after the first year what seems complicated now will be very simple. I just don’t want to have to borrow a single penny if I don’t have to, at least not the first year. But I want the luxury of knowing I can if I need to.</p>
<p>You don’t have to take the loan out until the very end of that school year if you don’t want to do so. If the FAFSA is already done, it takes about a week or so to process the loan. You apply on line, get practically an instant approval or turndown. You then fill out the MPN and coordinate with financial aid. You get whatever money you don’t owe the school from the school via check or however they handle these thing. I believe there is a June 1 deadline before the doors are shut,but you had better check with the school for their own deadline for processing these loans.</p>
<p>One of the schools our ds was accepted at told me yesterday that we can fill out the paperwork and make sure we are approved now but the promissory note did not have to be signed until September for the coming fall. Hope that helps.</p>