The PLUS program allows parents of a dependent student to borrow funds. Eligible parent borrowers must be either biological or adoptive parent, or stepparent if listed on the FAFSA. Castleton uses the online Parent PLUS Loan Application at studentaid.gov. The credit check for a PLUS loan is valid for 180 days. The studentaid.gov website will accept applications beginning May 1 for the upcoming academic year. If your loan approval expires your credit will be run again and the new credit decision may be different than the original based on your credit record.
New parent borrowers will need to complete a Master Promissory Note at studentaid.gov, which is done in the Complete Aid Process section of the website. Returning parent borrowers, who had an endorser, have to complete a new PLUS promissory note and endorser promissory note each year, in addition to PLUS loan counseling.