Best timing for Parent PLUS loans vs private student loans - applying for 2025-2026

You actually shouldn't apply for the Parent PLUS loan until after May 1st for the 2025-2026 academic year. They're available starting July 1, 2025, but you can apply starting ~60 days before. If you apply too early, you'll have to reapply anyway. For private loans, your daughter should wait until (1) she accepts the financial aid package, (2) you know how much PLUS loan you're taking, and (3) you know the exact remaining gap. Private loans require credit checks that expire, so timing matters.

As a parent, I did PLUS loan for my son last year. U absolutley need to wait til after financial aid package comes becuz that tells u the exact amount. Private loans are BAD news - high interest. Exhaust federal first!!

For timing, think of it this way: 1. Accept financial aid package first (grants/scholarships/direct loans) 2. Apply for Parent PLUS ~2 months before funds needed 3. If PLUS denied, student becomes eligible for additional unsubsidized loans 4. Only then consider private loans for any remaining gap The housing deposit is separate - you'll likely need to pay that out of pocket before loans are processed. Loans typically disburse right before each semester starts.

I work in financial aid and want to clarify some timing points: - Parent PLUS applications for 2025-2026 open around May 2025 (not before) - PLUS credit checks valid for 180 days - Schools typically need PLUS/private loans finalized 2-3 weeks before semester start - Housing deposits are rarely covered by loans (timing issue) Key advice: Wait until you have the final aid package before applying for any loans. For housing deposits, ask about payment plans or hardship deferrals if needed.

I went thru this last year & its so frustrating! Applied for PLUS in June & got denied cuz of old medical debt. Then my kid got more unsubsidized loans but still had a gap of $5k per semester. We called & called & could never get anyone on fsaid phone line!!! Just recordings. WASTE OF TIME.

One important thing nobody mentioned - before applying for either loan type, look at the *exact* remaining need after subtracting ALL grants/scholarships/work study. The financial aid award letter should show the total Cost of Attendance (including estimated living expenses) minus all aid, giving you the remaining need. Don't over-borrow! Also, many schools have specific preferred lenders for private loans with negotiated rates - ask financial aid for their list.

i got a plus loan for my kid and Private loan same year. basically just do PLUS first cause its better rates usually and more forgiveness options. private loan companies give you a window of like 60 days or something to actually use the loan so its not like you gotta time it super perfect. we did PLUS in may and got approved quick, private loan in june. no big deal honestly just two different applications.

For the original question about timing: - Parent PLUS: Apply May-June 2025 for the 2025-2026 year - Private loans: Apply 30-45 days before tuition due date (typically late July/early August for fall semester) Remember that interest accrues from disbursement for both loan types, so you don't want funds too early. And for the housing deposit specifically - check if the school offers any deferment options for financial aid recipients. Some do!

Just wanted to add from my experience last year - make sure to check if your daughter's school participates in the Common Origination and Disbursement (COD) system for private loans. Some schools have specific requirements about when private loan applications can be submitted relative to PLUS loans. Also, keep in mind that if you're denied for PLUS, your daughter automatically becomes eligible for an additional $4,000 in unsubsidized federal loans (up to $5,000 for juniors/seniors), which might reduce how much you need from private loans. The financial aid office should walk you through this if it happens, but it's good to know ahead of time!