Tuition, room and board, books ... it all adds up to a sizable expenditure for even the most prepared parents. It's no wonder ESF's Parent PLUS Loan has become a popular financing option for the parents of dependent undergraduate college students enrolled on at least a half-time basis.

Twin States Federal Credit Union has partnered with Education Services Foundation to provide convenient hometown access to Parent PLUS loans. Federal PLUS Loans enable parents with good credit histories to borrow money to help pay for the educational expenses of undergraduate students enrolled on at least a half-time basis. PLUS Loans are not based on financial need. 

There are no loan limits for the Parent PLUS Loan. Parent borrowers may be eligible to borrow an amount equal to the cost of attendance less any other financial aid the dependent student receives. Interest begins to accrue from the first disbursement date, and repayment begins within 60 days after the final loan disbursement.

The parent borrower has up to 10 years to repay the loan. In some cases, parent borrowers may be eligible for a deferment of payment.

PLUS Loan Fees and Interest Rate
There are federal fees associated with a PLUS Loan which will be deducted from the amount you borrow. For loans disbursed on or after July 1, 2008:

	3% origination fee
	0% - 1% default fee, based on guarantor of the loan

Ready to apply for your Parent PLUS loan?

Parent PLUS Loan Pre-approval
Some colleges and universities require Pre-approval before certifying your loan.

You should not apply more than 90 days prior to the beginning of the loan period to avoid an additional credit check pulled on your record.  If you do not know the specific loan period start date, please refer to the suggested time-frame for requesting a pre-approval.

• Fall semester enrollment: Apply no earlier than June 20
• Spring semester enrollment: Apply no earlier than October 15
• Summer semester enrollment: Apply no earlier than March 15

If Pre-approval is required, click on the icon to apply on-line for convenient pre-approval for your Parent PLUS Loan.

If you are eligible for and are approved for a Parent PLUS Loan, check with your college to see if you need to submit a PLUS Loan Master Promissory Note. If so, you may you may access our PLUS Loan MPN in two ways:

	click here to complete the MPN online - you may then either sign and submit it electronically or print it out, sign and mail.
	click here for a blank MPN which you may print out, complete, sign and mail to us at:

Twin States Federal Credit Union/ESF
Student Loan Division
P. O. Drawer 55909
Jackson MS 39296-5909

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