FEDERAL DIRECT PLUS LOAN INFORMATION
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 Department of Education
Parents of Dependent Students
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 Direct PLUS loan.
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 7.90%.
|Repayment Information:||Between 10 and 25 years to repay depending on the amount owed and the type of repayment plan selected|