FAFSA Parent PLUS Loan 2025-2026: Approval Timeline & Credit Requirements?

I just went through this last month for my son's sophomore year. The Parent PLUS approval took exactly 7 business days for me. The credit check isn't as strict as people think - they're mainly looking for major derogatory marks like defaults, bankruptcies, or accounts in collection. A few late payments from 2023 probably won't disqualify you. If you do get denied, remember your daughter automatically becomes eligible for additional unsubsidized loans (usually $4,000-$5,000 more depending on her year in school). You can also appeal a denial with documentation if your credit situation has improved.

ur going to wait foreverrr lol. took them 3 WEEKS to approve my plus loan this summer. the whole system is broken. and that was after i had to submit the app twice bc the first one "disappeared" according to the person i finally reached

I applied for a Parent PLUS loan in early June for my daughter's freshman year, and the approval came through in about 5 business days. The website did show "processing" the entire time with no updates, which was nerve-wracking. From what I understand, they don't use a specific FICO score threshold, but rather look for adverse credit history in the past 5 years. Adverse credit history includes: - Accounts with total outstanding balance greater than $2,085 that are 90+ days delinquent - Collections or charge-offs in the past two years - Default, bankruptcy discharge, foreclosure, repossession, tax lien, wage garnishment, or write-off of federal student aid debt in the past 5 years If you just had a few late payments but they weren't 90+ days late, you should be fine. The interest rate for 2025-2026 Parent PLUS loans is 8.05% with a 4.228% origination fee, so make sure you're accounting for that in your calculations.

The whole parent plus process is A JOKE!! I was denied because of a medical collection from 2022 that I didn't even know about ($267 radiology bill that apparently got sent to collections). I had to go through this whole endorser process where my sister had to cosign, and then we BOTH had to complete credit counseling!! For a stupid $267 mistake!!!!! They're so strict it's ridiculous when they're handing out unlimited amounts to parents at CRAZY interest rates!!!!!

have u thought about private loans instead?? my daughter got a way better interest rate (5.4%) through Citizens Bank than the parent plus loan we were offered (over 8%!!). just something to consider if ur credit is decent

If you're still waiting for approval and need to speak with someone at Federal Student Aid about your Parent PLUS application status, I'd recommend using Claimyr (claimyr.com). I was stuck in the "processing" limbo for over two weeks and couldn't get through on the phone lines. Claimyr helped me connect with an actual FSA agent in about 20 minutes instead of waiting on hold for hours. There's a video demo showing how it works: https://youtu.be/TbC8dZQWYNQ The agent was able to see that my application had actually been approved but the status wasn't updating on the website. Saved me a ton of stress and waiting.

btw is anyone else mad about how the new FAFSA changed everything?? my older kid got way more aid two years ago than my younger one is getting now with the same exact financial situation! the new SAI calculation is horrible

Just to follow up on your original question - if you're still in processing status after 10 business days, I'd definitely recommend contacting Federal Student Aid directly. Sometimes applications get stuck in the system, especially during peak periods. Also, make sure you've completed the Master Promissory Note (MPN) for the PLUS loan as well as the credit application. They're two separate steps, and both need to be completed before the loan can be disbursed to your daughter's school.

One more thing to consider - make sure your daughter's school has received and processed her FAFSA information. Sometimes Parent PLUS loans can be delayed if the school's financial aid office is still waiting on the ISIR (Institutional Student Information Record) from the FAFSA. You might want to contact her school's financial aid office to confirm they've received everything they need from your FAFSA submission. Also, don't forget that Parent PLUS loans are disbursed directly to the school, not to you, and they typically disburse no earlier than 10 days before the start of the term. So even once you're approved, you may not see the funds applied to her account right away.

I'm going through the exact same thing right now! Applied for Parent PLUS loan last week and still showing "processing" - it's so nerve-wracking not knowing what's happening. My son's SAI also came back much higher than we expected ($11,800) and we're scrambling to figure out the gap funding. From what I've been reading here, it sounds like 5-7 business days is pretty normal for approval, so hopefully we'll both hear something soon. The credit requirements seem less scary than I initially thought based on what others have shared. Fingers crossed for both of us! This whole financial aid process is way more stressful than anyone warned me about.

Just wanted to share my recent experience to hopefully ease some anxiety! I submitted my Parent PLUS application for my daughter's junior year about 2 weeks ago and got approved in 6 business days. Like you, I had some concerns about credit issues - I had a couple 30-day late payments on a credit card from early 2023 when I was going through a job transition. The "processing" status really doesn't give you any useful information, which is so frustrating! Mine showed processing right up until the day it switched to approved. I found that logging into the FSA website early in the morning (around 6-7 AM) seemed to show updates faster than checking during peak hours. Your SAI being higher than expected is unfortunately becoming the norm with the new FAFSA formula. We're dealing with similar sticker shock. The good news is that based on what others have shared here about the credit requirements, your 2023 late payments probably won't be an issue if they weren't 90+ days delinquent. Hang in there - the waiting is definitely the hardest part of this whole process!