College Admission Help

USA Funds Introduces Online Loan College Counseling for Parent-Borrowers

INDIANAPOLIS -- USA Funds(R), the nation's leading education loan guarantor, announces the introduction of a new component of its suite of online counseling programs for federal education loan borrowers. USA Funds Parent PLUS Guide(SM) entrance counseling is designed to help parent-borrowers make more-informed decisions about the use of Federal PLUS loans to help finance their children's college studies.
"Parents should be aware of the unique terms and conditions of PLUS loans before they borrow," said Denise B. Feser, USA Funds senior vice president, customer relations. "Postsecondary institutions can offer this counseling to parents to help them understand their rights and responsibilities as PLUS loan borrowers, and even integrate the program into the loan application process."
Federal PLUS loans are federally guaranteed loans that parents can use to help pay a dependent undergraduate student's college costs. Parent PLUS loan borrowing has grown to nearly $7 billion annually.
USA Funds Parent PLUS Guide offers the following features:
• A glossary of education loan terms.
• Items parents should consider before taking out a PLUS loan.
• A description of the PLUS loan Master Promissory Note, the adverse-credit check and the alternatives for parents with adverse credit.
• PLUS loan terms and conditions.
• Borrower rights and responsibilities, including the responsibility of the parent to repay the PLUS loan.
• PLUS loan repayment plans and options for PLUS loan borrowers who need payment relief.
• The definition and consequences of default.
• USA Funds Parent PLUS Guide is part of the USA Funds Loan Counselor(R) suite of online loan counseling tools. Other components include:
• USA Funds Stafford Loan Guide(SM) entrance counseling for undergraduates.
• USA Funds Student Loan Transition Guide(SM) exit counseling for undergraduates.
• USA Funds Grad Guide(SM) entrance and exit counseling for graduate and professional students.
For more information about USA Funds Parent PLUS Guide and the other components of USA Funds Loan Counselor, visit www.usafunds.org/financial_aid and select "Debt Management" and "USA Funds Loan Counselor."


USA Funds Introduces Online Loan College Counseling for Parent-Borrowers