Parent Loan Information

This loan program offers non-need based loans to assist parents of dependent students. The interest rate is 8.50%. The maximum FPLUS amount that may be borrowed equals the difference between the cost of attendance and any other financial aid the student is receiving. In no case may the FPLUS loan exceed a student's cost of attendance minus estimated financial assistance. These loans are subject to a credit review conducted by the lender. Applications are available through our office, your local bank or lending agency. A parent may complete the application and return it to the financial aid office where we will certify the student's expenses and forward it to the lender of your choice (See below for a complete listing of our preferred lenders).

Are you curious what your loan payments may be? Check out Finaid's loan repayment calculator. You will have the ability to manipulate figures so you can determine just what your payment will be when you enter into repayment. (Loan Repayment Calculator)

Roanoke College Preferred Lender List for Federal PLUS Loan Program:

Lender Name	Lender Code
Edamerica	831453
PNC Bank	809402
SunTrust	819873
Wachovia	830005
Wells Fargo	807176

How did Roanoke College select these lenders? Click here to find out.

PLUS Loan Master Promissory Note
If you are interested in applying for a Federal PLUS Loan, you must click on the link above. You will have to complete the Master Promissory Note online. Our office will receive electronic confirmation once you have done this. You will also have to complet the PLUS Loan Request Form (link below) and mail this form directly to our office. Be sure to notice the preferred lenders listed above. If your lender does not participate, you may still borrow with them. Simply request a paper MPN from them and mail it to our office after completing it.

PLUS Loan Request Form
This form must be completed and returned along with the PLUS Master Promissory Note. You must access this form using the link above. You will have to print it out, complete and sign it.

PLUS Loan Pre-Approval (Pending Federal regulations may lead to changes in the PLUS Loan program. Lenders and/or terms of the loan may change. As a result, you should not complete a Master Promissory Note at this time. You can attempt a pre-approval to see if you might be pre-approved. Note that you will be required have to do the pre-approval process again when you actually complete the necessary paperwork. Should you choose to do a pre-approval today, you need to be aware that a new credit check may pull different results.)
Are you interested in finding out if your parent would be pre-approved for a PLUS Loan? All you have to do is click on the link above, answer a few questions and you will be notified as to the outcome. A credit report will be obtained and reviewed. The parent is under no obligation to take out a PLUS loan based simply upon an pre-approval. A signed, completed PLUS Loan Application and Promissory Note would need to be completed to pursue this loan beyond the pre-approval stage. If you have questions, or cannot access the link, please contact our office immediately and we will be glad to forward a paper pre-approval application to you. Also, please note that the results of this credit inquiry are good for limited time. Therefore, pre-approval requests for next academic year should be made after June 1st.