Getting Started Financial Aid Directors Ask A Question

This year, over $3 billion will be borrowed in Federal PLUS LOANS.  Yes, we are a nonprofit organization.


The PLUS Loan is available to parents of dependent students and graduate/professional students.  You can borrow up to the cost of attendance less any other Financial Aid received!


You can spread repayment up to 10 years.
Repayment begins within 60 days after the final disbursement for that school year.  Graduate and professional students may apply for a deferment until after graduation. Parent can choose to delay payments until 6 months after the student leaves schools or drops below half-time status.

Current Rates
(starting July 1, 2006):


The Federal PLUS Loan interest rate is a fixed rate of 8.5%.

 

 

 Plus Deferment

Effective July 1, 2008: Borrowers with parent PLUS loans disbursed on or after July 1, 2008, now have the option to postpone their monthly payments through a PLUS loan grace period. Payment will be postponed until six months after the student for whom the loan(s) was obtained is no longer enrolled at least half-time. Interest will continue to accrue while payments are postponed. Although principal payments are not required during this period, borrowers have the option to pay accruing interest either monthly or quarterly. Following this grace period, repayment of the loan(s) will begin according to the terms of the Promissory Note(s) and repayment agreement(s).

Important: In order to postpone payments on a parent PLUS loan, you must apply for a PLUS loan deferment while the loan is in grace period and prior to the loan entering repayment.

Am I Eligible for a federally guaranteed PLUS Loan?
Apply online for
an instant decision!

1-800-PLUS-LOAN
(1-800-758-7562)

ASK US ABOUT OUR FLEXIBLE REPAYMENT OPTIONS!

 

 

  

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