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Parent Plus Loan
PLUS loans enable parents with good credit histories to borrow on behalf of each child who is a dependent undergraduate student enrolled at least half time. PLUS loans are available through the FFEL program.
| Candidates: |
Parents of Dependent Students |
| Loan Maximum: | You may borrow up to the cost of education minus other financial aid awarded, as determined by the Financial Aid Office. For example, if the school's cost of attendance is $10,000 and the student is eligible for $5,000 in other aid, you may borrow up to $5,000 through a Federal PLUS loan. |
| Filing Period: | Before you apply for a Federal PLUS loan, be sure a FAFSA has been filed. Then you can submit a Plus Loan Request form which can be found in the box below. |
| Required Forms: | |
| Interest Rate: | The Federal PLUS Loan has a fixed interest rate effective July 1, 2006, PLUS loans first disbursed on or after July 1, 2006, have an interest rate of 8.50%. |
| Repayment Information: | You will start to repay the Federal PLUS loan within 60 days of full disbursement. The minimum monthly payment is $50 and the maximum repayment term is 10 years. |
| Additional Information: | Visit the EdFund.org website to learn more about eligibility, borrowing limits, interest rates, fees, repayment and deferment options. View the Lender Comparison Chart by clicking: |