Parent PLUS Loans

1. You do not need to select a lender.  We are a Direct Lending school and your loan will be set up through the U.S. Department of Education.
2. These loans accrue interest once disbursed and the repayment begins approximately two months after the full loan disburses (earlier in some cases). Borrowers have the option of deferring repayment for up to a 6-month period after you cease to be enrolled half-time (6 credit hours). Parent borrowers must contact the Direct Loan Serving Center (DLSC) at 800-848-0979 to request a deferment.
3. If the parent borrower changes, the new borrower must complete a Master Promissory Note (MPN) using the appropriate FSA ID.
4. The FAFSA and Parent PLUS Loan Application must be completed each year and the application is subject to a credit check.
5. Direct Loans approves/denies the Parent PLUS Loan application, not CVCC. Consideration is dependent upon Satisfactory Academic Progress.
6. If the loan is denied, you may request an additional unsubsidized Direct Student Loan.
7. Failure to complete all requirements will result in a delay in loan disbursements and possible cancellation of the loan (requirements can be found through myCVCC).
8. Parents have the right to cancel all or part of the loan prior to the first day of the semester, or within 14 days of notification of the loan. Parents may also reduce the amount of the loan, or cancel a future disbursement by submitting a written statement to the Financial Aid Office before disbursement.