Eye on Education

It May Now Be Easier to Get A PLUS Student Loan

Today, the federal government will announce potential changes that could make it easier for collegians to land one particular type of federal student loans. Inside Higher Ed reports that the updates, including relaxing applicants’ credit requirements, would expand PLUS loan access to 371,000 borrowers.

WASHINGTON — The Obama administration on Friday will formally propose changes to the PLUS loan program that would largely loosen the credit requirements needed to obtain them. The proposal, which was tentatively agreed to by a negotiated rule making panel earlier this year, will clarify in regulation the department’s current practice of considering accounts more than 90 days delinquent as “adverse credit” that generally hurt a person’s chances of getting a loan.

Read more at: www.insidehighered.com

About StateImpact

StateImpact seeks to inform and engage local communities with broadcast and online news focused on how state government decisions affect your lives.
Learn More »