The Parent PLUS Loan Crisis
In October 2011 the U.S. Department of Education changed a key requirement for the program. Thousands of families have been hit hard as parents have discovered they no longer qualify for Parent PLUS.
This policy was implemented through a well-intentioned but flawed process. If the Department of Education does not reverse course, students who are college-ready but financially needy will continue to be denied the opportunity to attend college.
The change in Parent PLUS also affects HBCUs, with thousands fewer student approved for loans for 2012-2013. This drop should be a concern to all of higher education as students the country needs the most find it more difficult to get the education they need and we need them to have.
Please read UNCF’s new report, THE PARENT PLUS LOAN CRISIS: An Urgent Crisis Facing Students at the Nation’s HBCUs, and join us in calling on the Department of Education to immediately reinstate its original Parent PLUS credit requirements while it conducts a transparent and deliberate review process for new criteria.
Parents and Students – Please share your story about how the changes to Parent PLUS will affect you, or add your name to our petition to reinstate the original loan requirements.
Media – Learn more about what UNCF is saying about the Parent PLUS loan issue and how it is affecting low-income minority students across the country.