[Students] Rumor Has It Series: Financial Aid Applicants: Parent Loan (PLUS) & Increasing Student Loans

[A&M-Commerce Students]

Some of you may recall my emails in the past addressing issues that 'rumor has it' or 'they' said. And since we are entering a new 17-18 year and I have heard some interesting things I am starting again the "Rumor Has It Series". This came up very recently.
Rumor has it that there is a 'waiver' form a parent can complete so their student can receive additional student loans. The parent waives the parent loan requirement.

This is certainly not true.
There is no 'waiver' form for the parent to complete and have their student receive additional student loans.

What is true:

1.       The parent must 1st accept and apply for the Parent PLUS loan. This is required by federal program.

2.       IF the parent borrower is denied the Parent PLUS loan AND

3.       IF the parent borrower does not pursue an appeal NOR a cosigner/endorser THEN

4.       Our office manually updates the student's financial aid record indicating the Parent PLUS is Denied

5.       The student's unsubsidized loan can then be increased.

a.       The increase will be for no more than $4,000 for the academic year or no more than the cost of education whichever is less.

There you have it. Have a nice day!
A friendly reminder from the Office of Financial Aid & Scholarships

Maria del C. Perez-Ramos, Director
Financial Aid and Scholarships
Maria.ramos at tamuc.edu<mailto:Maria.ramos at tamuc.edu>

Mail:  P.O. Box 3011 | Commerce, TX  75429
Ship:  2600 South Neal Street | Commerce, TX  75428
Tel:  903.886.5091<tel:903.886.5091> | Fax:  903.886.5098<tel:903.886.5098> | www.tamuc.edu<http://www.tamuc.edu> <http://www.tamuc.edu/>
http://www.tamuc.edu/financialaid

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