I have read the federal regs regarding plus loans and I won't qualify because my five year period ends at the end of August 2004 and tuition is due mid August.
If anyone has this type of experience can you recommend a lender for a PLUS loan?
I know that they technically don't look at your FICO score but look at whether you've been late,bkrupt, foreclosed, etc within the last five years.
However, I am assuming lenders can be more strict than federal guidelines? Am I right? I've read that some do use FICO and that the minimum score is 625.
The people at Sallie Mae were rude bureaucrats and I'd like to avoid them if I could.
Many thanks for helping this college parent.

You can try 2 things:

Have your student join a payment plan at his college or University. If you have talked to your PLUS lender and are sure that this 5 year mark is all that is in your way, you should be eligible for funds in early September.

If you have a recent PLUS denial letter, your student is eligible for an additional unsubsidized Federal Stafford or Direct Loan in the amount of $4000 for freshman or sophomore. $5000 if student is a junior or senior. Have the student give this recent PLUS denial letter to the school's financial aid office.

At the current 2.82% interest rate, this is a much better deal for the student than a PLUS is for mom & dad.

Is that rate variable or fixed snowpuppie? If it's variable, are there any fixed rates available? And why would the student be stuck with an unsubsidized rather than a subsidized? Is that a hard and fast rule with PLUS loan rejects?