Parent PLUS Loan Requirements Revisions Get Mixed Initial Reviews

By Autumn A. Arnett. The U.S. Department of Education Wednesday announced additional changes to the Parent Plus Loan requirements, which have been the source of much controversy recently.
The new rule updates the requirements for “adverse credit history,” the application of which recently set off a firestorm when numerous parents found themselves rejected for the aid. Effective July 1, 2015, applicants who are determined to have adverse credit history and are approved on the basis of extenuating circumstances or a qualifying co-signer will be required to receive loan counseling prior to receiving the loan dispersement. More...