PLUS loans are available to parents or step-parents with favorable credit histories to assist in the funding of their child’s education. Amounts up to the total cost of schooling minus any other aid the child has received can be borrowed each year.

With the recently enacted Health Care and Education Affordability Reconciliation Act of 2010 (H.R. 4872), the Federal Family Educational Loan (FFEL) Program has been eliminated. Private lenders, like Unison Credit Union, no longer have a role in originating or funding federal Stafford, PLUS or Consolidation loans. Beginning July 1, 2010 all new federal student loans will be issued via the William D. Ford Direct Loan Program. Contact your school’s financial aid office for more information.

For questions or service related to an existing FFEL Loan secured through Unison Credit Union, contact our chosen servicer, Great Lakes at 1-800-236-4300, or at www.mygreatlakes.org.

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