The Federal Parent PLUS Loan can be borrowed by parents of full-time or half-time dependent undergraduate students at Bellarmine. A Parent PLUS Loan is borrowed by the parent, not the student, so responsibility for repayment rests with the parent. A parent may borrow up to the full cost of the student’s education for expenses including tuition and fees, room and board, books and supplies, transportation and living allowance, less any other financial aid the student receives.
Parent PLUS Loans have a fixed interest rate of 8.5 percent. Interest is charged on the loan from the date the first disbursement is made until the loan is paid in full. Repayment begins within 60 days after the final loan disbursement. Some lenders offer deferment options while the student is attending school at least half-time.
Deciding what lender you want to use can be a daunting task. To help guide you, we have put together a list of preferred lenders. Please review the benefits for each lender for more information. While you may choose any lender, our goal is to do the research for you, simplify the process, and propose lenders with the best products, technology and benefits available. Bellarmine University uses a comprehensive process for developing its lender list. A Request for Information is sent to all interested lenders, and information received back is used to evaluate the best options for students. Lenders are evaluated on a number of factors including participation in electronic processes with KHEAA, length of service in the industry, back-end benefits offered to student borrowers, and default aversion measures. After the data is collected, a committee meets to review the information and select the preferred lenders and rank them accordingly. Student choice of lender is never denied nor is the processing of a loan from a lender outside of our lender list delayed. Lender benefits are subject to change. If you have questions, contact Dawn Graviss, Senior Financial Aid Counselor, at 502.272.8280.
Parent PLUS Loan Instructions
A student must have filed a Free Application for Federal Student Aid (FAFSA) and have received a financial aid award from the Office of Financial Aid to apply for a PLUS Loan. The original financial aid award will not include the PLUS loan in the initial awarding of federal aid. Once you have been awarded your financial aid eligibility, your parent can initiate the PLUS Loan process.
Your parent should review the lenders below and their benefits for PLUS Loans. Unless otherwise specified, all of the lenders on our list charge a 3 percent fee when borrowing a PLUS loan. Your parent is not limited to selecting a lender on our list and can choose to borrow the PLUS loan funds from any agency that they choose. Once the parent has reviewed the lenders, he or she should click on the lender name in order to apply for the loan. This link will take them to the loan guarantor's Web site. The parent and student social security number will be required to complete the process. If a parent does not wish to use either KHEAA as a loan guarantor, contact the Office of Financial Aid directly at 502.272.7300.
If your parent is a first-time Parent PLUS loan borrower at Bellarmine, he or she must complete a Master Promissory Note (MPN). For loans guaranteed by KHEAA, parents may also eSign (electronically sign) the MPN using the PIN number they used when completing the FAFSA. eSign can be completed at www.kheaa.com after the MPN is received.
- Student Loan People - 0.25% interest rate reduction for auto debit • Guarantor: KHEAA
- PNC Bank - 0.25% interest rate reduction for auto debit • Guarantor: KHEAA
- Sallie Mae - 0.25% interest rate reduction for auto debit • Guarantor: KHEAA
- Fifth Third Bank - 0.25% interest rate reduction for auto debit • Guarantor: KHEAA
- Regions Bank - 0.25% interest rate reduction for auto debit • Guarantor: KHEAA
- National Education - 0.25% interest rate reduction for auto debit • Guarantor: KHEAA
- Nelnet - 0.25% interest rate reduction for auto debit • Guarantor: KHEAA
- Edamerica - 0.25% interest rate reduction for auto debit • Guarantor: KHEAA