Page 57 - BSU Undergraduate-Catalog-2017-2019

Combined
Based Limit Additional Limit for Total Limit for Unsubsidized
for Subsidized Unsubsidized Loans Loans (minus subsidized amounts)
and
Unsubsidized

Subsidized

Dependent $23,000 $8000 $31,000
Undergraduate
Independent $23,000 $34,500 $57,500
Undergraduate
Graduate $65,000 $138,500
Professional

Direct PLUS Loan

Federal Direct Parent PLUS Loan is a credit-based government-sponsored fixed interest loan that
is made available to parents to help pay for educational expenses up to the cost of attendance
minus all other financial aid the dependent student is awarded. Interest starts to accrue after
disbursement and is charged during all periods.

Parent applicants do not have to demonstrate need; however, dependent students are
encouraged to use their full eligibility for a Direct subsidized or unsubsidized loan before
parents apply for a PLUS Loan. The debt on parent PLUS loan is in the parent’s name and
remains the parent’s legal financial responsibility throughout repayment. The U.S.
Department of Education approves a loan from this federal program only after an evaluation
of the parent borrower’s credit history. If a parent is denied a PLUS Loan, the student may be
eligible to receive additional direct unsubsidized loan. Additional direct unsubsidized loan is
granted only after Bowie State University has received a denial of credit from the Department
of Education.

Parent(s) of undergraduate students must apply online following the steps below. No paper
applications are accepted.

Eligibility requirements
 Applicants must be the biological or adoptive parents of the student.

 The student must be a dependent of the parent.
 The Student must be enrolled in at least 6 credit hours per semester.

 Parent borrower must be a U.S. citizen or eligible non-citizen with satisfactory credit rating

In order to apply, parents of dependent students can apply at to www.studentloans.gov and select
parent borrowers. Create a FSA ID Username and FSA ID Password Login and select Apply for a PLUS
Loan. Complete application and submit. 57