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FEDERAL DIRECT PLUS LOAN INFORMATION
FOR PARENTS
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
| 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 Direct 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: |
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| 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 7.90%. |
| Repayment Information: | Between 10 and 25 years to repay depending on the amount owed and the type of repayment plan selected |