2801.05  GUARANTEED STUDENT LOAN (GSL) AND PARENT LOANS 
FOR UNDERGRADUATE STUDENTS (PLUS)

The statutory authority for the Guaranteed Student Loan (GSL) Program is 
Title IV, Part B, of the Higher Education Act of 1965, as amended.  This 
program has a long legislative history which can be reviewed in the 
Encyclopedia of Student Financial Aid, Section 6.0---GSL and PLUS Programs.

GSL and PLUS loans are available to graduate and undergraduate students 
and their parents to help finance the cost of a postsecondary education.  The 
interest rates are higher than for other educational loans, such as NDSL.  
Loan capital is supplied by eligible lenders, such as banks, credit unions, 
savings and loans, and State agencies utilizing funds from revenue bonds.  
There are annual limits and aggregate limits for the loans.