575-624-8066    finaid@nmmi.edu    FAX: 575-624-8225
Office: Enrollment & Development Center
Office Hours: Monday-Friday 7:30 a.m. - 4:30 p.m.

PLUS Loan Qualifications:

• Parents may only borrow Federal PLUS Loans on behalf of "dependent" college students. Independent students are students who were born before January 1, 1984 (for SY 08-09), or are graduate/professional students, or are married, or are orphans or wards of the court, or who have legal dependents other than a spouse, or who are veterans of the U. S. Armed Forces. These students should complete the Free Application for Federal Student Aid to pursue financial aid as independent students.

• Only parents (natural parents, adoptive parents, or stepparents) of the student may apply for this loan. Other persons cannot borrow this loan. Only U.S. citizens or eligible non-citizens (see the definition in The Student Guide *) can apply for this loan. Eligible non-citizens must provide front and back copies of immigration documentation to the NMMI Financial Aid Office to prove their eligible status. Both the student and the parent borrower must be either U. S. citizens or eligible non-citizens.

• Students must be making satisfactory academic progress for parents to borrow this loan. Satisfactory academic progress standards are available from our office.

NOTE:  If you have any one of the following items on your credit report within the last five years, you may not be eligible for a PLUS Loan:

• Government Claim on Defaulted Loan or Title IV Write-Off

• 90 days or more delinquent on any debt, Collection Account, or Charge-Off

• Foreclosure, Foreclosure proceedings started, or Deed-in-Lieu of Foreclosure

• Credit Line Closed, Lease or Contract Terminated by Default

• Voluntary Surrender, Repossession or Wage Garnishment

• County/State/Federal Tax Lien, Government Claim on Secured Real Estate

If you meet one of these criteria, you may still be able to borrow the PLUS Loan if the lender will consider supporting documentation provided by the borrower; contact your lender for details. If the PLUS Loan is denied, the student could be offered a “Dependent Unsubsidized Stafford Loan” if eligible. Contact Financial Aid Services for information on other alternatives.

*Students and parents can request single copies of this publication by calling the FSA Information Center at 1-800-4-FED-AID or by contacting the Financial Aid Office at 1-800-421-5376.
to Apply for a PLUS Loan

Financial Aid Home Page