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Putting your son or daughter through school doesn’t have to mean sacrificing your nest egg. A WyoLoan Parent Loan for Undergraduate Students (PLUS) can protect your savings and take the worry out of financing higher education.
WyoLoan is your homegrown, nonprofit alternative. As the state’s largest education lender, we have a 25-year history of personalized service – from answering application questions to helping you celebrate your final payment. What’s more, loan processing can be smooth and timely, given our long relationships with educational institutions nationwide. Click here to apply and to access the right forms
Who it’s for |
Parents of dependent undergraduate students |
Eligibility |
Your student must be:
- Your dependent
- Accepted for enrollment or already enrolled at least half-time at a school in the FFEL Program
- Seeking a degree, professional credential, or teacher state certification
- Maintaining satisfactory academic progress
You must be:
- A U.S. citizen or national
- Credit worthy
You both must be:
- In good standing on any other government-regulated student loans and on any other federal financial aid program
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Advantages |
A low-interest way for parents to help their dependent undergraduate students pay for tuition, fees, room and board, books, supplies, transportation, and living expenses
Preserves your retirement nest egg and your home equity
A PLUS loan can be taken out in addition to the student’s Stafford loan
Parents may borrow for multiple students
Parents can borrow up to the cost of attendance less other financial aid |
WyoLoan benefits |
Low interest rate
$100 reduction in loan principal for deployed military and reserves
Free life and disability insurance
Free check-by-phone
24/7 account access and live help 8-5, M-F MT
Combined statements for all loans
WyoLoan won’t sell your loan, so you can always count on reliable service
Excellent customer service from a Wyoming-based nonprofit firm |
Interest rate |
8.5% fixed |
Fees |
3% origination fee
1% federal default fee |
Annual loan limits |
None |
Repayment |
You’re responsible to start repaying principal and interest after the loan funds are disbursed or within 45 days of the end date of a qualified deferment period |
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