PLUS Loan

The Federal PLUS Loan Program is designed to allow the parent(s) of a dependent undergraduate student to borrow money to help cover the cost of education expenses. It is not based on financial need. However, Adams State requires that you complete the FAFSA before a PLUS Loan is processed.

PLUS Loans are credit-qualifying loans available to parents and offer many advantages over other forms of educational funding. Remember, a PLUS Loan is not free money; you, the parent, are responsible for paying it back.

If you are interested in applying for a Parent PLUS Loan please complete the following steps:

You, the parent, will need to do your own credit check prior to completing the Master Promissory Note. The credit check is good just for 90 days, so Adams State begins processing PLUS loans only after July 1 for the next academic year.

Follow the online instructions. If the result of the credit check indicates that your credit has been denied, the Lender will not approve you for a PLUS Loan. However, the student will be eligible for an additional Unsubsidized Stafford Loan.

Follow the online directions for the Master Promissory Note after completing the credit check.In order for the Parent PLUS loan to be originated, it must be accepted. You may accept the Parent PLUS loan (after above steps are complete) by emailing loans@adams.edu.  Make sure to include the student's ID number as well as the amount you are accepting.Federal policy requires any "excess" PLUS proceeds to be returned to the parent. If your PLUS Loan funds create a credit balance at Adams State University, the credit balance will be forwarded to the parent. However, you may authorize transfer of the PLUS loan proceeds directly to your student. You will have the option to select your preference when completing the Master Promissory Note.