These loans are now available to all families. This federally insured program allows parents to borrow amounts up to the cost of attendance (minus any aid) for each undergraduate student. Loans can be taken each year at a variable interest rate. Principal and interest can be repaid over 12 years, beginning 45 days following the second disbursement.

The Federal Plus Loan is available to parents or guardians of dependent undergraduate students.

  • The maximum amount you may borrow on a Federal Plus Loan each academic year per student, is the cost of attendance minus other financial aid received.
  • Annual variable interest rates subject to change every July 1st. Interest rate not to exceed 9%.
  • No income verification is required. A credit check, however, is required.
  • A 3% origination and guarantee fee will be deducted from the loan proceeds prior to disbursement.
  • Principal and interest payments on a PLUS loan begin 45 days after the second disbursement. (Previous PLUS borrowers may qualify for a principal deferment.) The repayment term on a PLUS loan is up to 12 years.

New Parent PLUS Borrowers

Caldwell College has selected three lenders who provide quality service to our students and their families: Citibank; Sallie Mae Education Trust; and Wachovia, for our PLUS Loan Program. If you are a parent of a Caldwell College undergraduate student and wish to take out a new PLUS Loan, please click on the link to our PLUS Lender List, select a lender, and follow their instructions to apply for a PLUS loan. You may select any lender form this list or any other lender that you desire. Caldwell College works with all lenders in the PLUS program.

Do not apply for this loan before May 1. The credit approval is only valid for 120 days. Once you have completed the online credit approval, you will be instructed to complete the application process by e-signature. You must e-sign for the process to be complete and the funds to be disbursed to the school.

Citibank
 800-394-7035
Wachovia
 877-689-0763
Sallie Mae
 800-891-1410

Repeat PLUS Borrowers

If you are a repeat borrower and wish to renew your PLUS Loan, please follow the above procedure for pre-approval. It isnot necessary to complete another moster promissory note.

You may also get pre-approval over the phone using the toll free numbers on the left.