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    Parent Plus Loan

    Been a long time since I was here but I always come back just to "check in" and ask a question or two when I have one. Well I was wondering what my chances of obtaining a parent plus loan for my child if we are just shy of 2 years being discharged. Last year I was denied and my child got additional loans as an independent student. This year the award letter has a section for me to apply for a parent loan to help. I don't understand why they do this if last year I was denied. Just wondering if this is something I have to do every year? Apply and get denied to receive additional funds? Does anyone know the answer?
    08-2009:Quit Paying Credit Cards
    04-2010:Hired 2nd Attorney;05-2010:Filed 7
    06-2010:341 Meeting (went very well)
    08-24-2010: Discharged; 09-02-2010 Closed!!

    #2
    The best thing to do is to make an appointment to speak with the financial aid section at your student's school - they have seen and been through it all and can guide you accordingly as to your specific situation.
    _________________________________________
    Filed 5 Year Chapter 13: April 2002
    Early Buy-Out: April 2006
    Discharge: August 2006

    "A credit card is a snake in your pocket"

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      #3
      Unfortunately I'm in the same boat, every year they say either my wife or I have to apply and be denied before they qualify for the additional loans. I talked to the school and they said we had to apply, so we just alternate between the two of us so the inquiries on our CR are spaced a little. As Flamingo said, maybe the FA department can help.

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        #4
        unless things have changed, unfortunately, you have to go through the denial every year and then your child can apply and get the loan. unless they have changed the criteria for you to get the loan, but as far as i know it's every year.
        8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

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          #5
          My husband got a parent plus loan last year, we filed in July and were discharged in October??

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            #6
            Originally posted by Photomom View Post
            My husband got a parent plus loan last year, we filed in July and were discharged in October??
            lucky!!!
            8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

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              #7
              Everyone was correct! Applied, denied! Thank you for taking the time to reply! I now need to wait for the school to get the information and offer the additional funds.
              08-2009:Quit Paying Credit Cards
              04-2010:Hired 2nd Attorney;05-2010:Filed 7
              06-2010:341 Meeting (went very well)
              08-24-2010: Discharged; 09-02-2010 Closed!!

              Comment


                #8
                Originally posted by Ann View Post
                Everyone was correct! Applied, denied! Thank you for taking the time to reply! I now need to wait for the school to get the information and offer the additional funds.
                well, now they will allow your child to apply for the loans in their own name. which really, coming from someone who had two kids in college AND grad schools at the same time, it not such a bad thing for your future
                8/4/2008 MAKE SURE AND VISIT Tobee's Blogs! http://www.bkforum.com/blog.php?32727-tobee43 and all are welcome to bk forum's Florida State Questions and Answers on BK http://www.bkforum.com/group.php?groupid=9

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                  #9
                  If you've filed a chapter 7 in the last 5 years, you will be denied for the parent plus loan...Only chapter 13 filers will be able to get the parent plus loan.
                  Retained Lawyer 10/3/08
                  Filed Chapter 7 11/25/08
                  Equifax 536 on 11/25/08, Equifax 571 on 03/11/09
                  Discharged 03/11/09

                  Comment


                    #10
                    I am assuming then the reason my husband got his last year was because we weren't yet discharged??

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