Parent PLUS loan amount selection - maximum vs. specific amount for 2025-2026 FAFSA

Always request the SPECIFIC amount you need, not the maximum. The Parent PLUS loan is designed to cover the Cost of Attendance minus any other financial aid received. So in your case: $38,750 - $23,200 = $15,550 would be the amount to request (assuming that covers everything including books, supplies, etc). If you request and receive more than needed, the excess funds will be disbursed to either you or your student (depending on how your school processes refunds). These aren't automatically "rolled over" - they're paid out, and you'll be charged interest on money you don't actually need.

maximum. always go maximum. you never know what expensies will come up during the year and trust me theirs ALWAYS unexpected costs

I went through this exact situation last year with my daughter. Here's what I learned: 1. Calculate the EXACT amount you need for the year (tuition + room/board + estimated books/supplies - all grants/scholarships/other aid) 2. Add about $1,000-1,500 buffer for unexpected expenses (trust me, there will be some) 3. Request that specific amount on the application PLUS loans are typically disbursed in two equal payments (one per semester). The school applies it to the account balance first, then refunds any excess to either you or your student. You can't "roll over" excess funds - any unused money gets sent as a refund check. If you accidentally request too little, you CAN submit another PLUS application later, but it's a hassle with another credit check and origination fee. If you request too much, you're paying interest on money you didn't need. My suggestion: call the financial aid office at your son's school. They can give you the exact amount needed to cover everything.

my cousin got the maximum parent plus loan for her kid & the school sent her like $6k in refund checks each semester!!! she used it to remodel her kitchen lol. but shes gonna be paying that off foreverrr

be careful with too much parent plus loans they have crazy interest rates compared to regular student loans. i know ppl who took max amounts and now owe like double what they borrowed 10 years later!!! i think the real question is why do u need parent plus at all? cant ur student just take subsidized loans? thats what i did for my daughter and at least those dont accrue interest while in school

Update: Thank you all for the advice! I called the financial aid office and they were super helpful. They recommended calculating our specific amount needed for the year ($16,750) plus a small buffer for books and supplies. They confirmed any excess would come back as a refund check that I don't want. They also told me something none of you mentioned - if I need to adjust the loan amount upward later, I don't need a whole new application/credit check as long as it's within the same academic year. I just need to submit a revision form. But going down in amount is easier than going up, so I'm being careful with our calculations.

I DID THE MAXIMUM AND REGRET IT!!!! My daughter's school automatically sent the leftover funds to her bank account each semester, and guess what? She spent it ALL on non-school stuff (spring break trip, new phone, eating out constantly). Now she's graduated and I'M stuck paying back money she blew through. DO NOT DO THIS!!! Calculate exactly what you need for tuition, housing, meal plan, and required books. Nothing more. Trust me.

One more important tip that hasn't been mentioned: you can always return unwanted Parent PLUS loan funds within 120 days of disbursement without paying interest or fees on that portion. So if you do get a refund check and don't need it, contact the financial aid office immediately about returning those funds. Also, be aware that for the 2025-2026 academic year, Parent PLUS loans have: - 8.05% fixed interest rate - 4.228% loan fee (deducted from disbursement) - 10-25 year repayment period depending on repayment plan Payments begin within 60 days after full disbursement, but you can request deferment while your student is enrolled at least half-time.

Just want to add one more consideration - make sure you factor in potential tuition increases for future years when calculating your borrowing strategy. Many schools raise tuition 3-5% annually, so what seems like enough coverage this year might leave you short next year. Also, if your son is planning to live off-campus after freshman year, housing costs can vary significantly from the school's estimated room & board figures. I'd recommend having a conversation with the financial aid office about their multi-year cost projections so you can plan accordingly and avoid having to take additional loans each year. Good luck with your son's college journey - it sounds like you're being very thoughtful about managing the debt responsibly!