PLUS Loans
The Federal Direct Parent Loan for Undergraduate Students (PLUS) program is available to parents of dependent, undergraduate students. The PLUS loan borrower is the parent. The maximum PLUS loan amount is dependent upon your student's cost of attendance and other aid resources.
The Interest Rate on the PLUS Loan Program is fixed and is set at 7.9%. In addition to interest, the borrower must pay loan origination fees.
The PLUS Loan Program does not have a grace period. The repayment for a Federal PLUS loan usually begins 60 days after the loan is fully disbursed. Several deferment options are available for the PLUS loan.
How do I apply for a PLUS loan?
Your student must have a Free Application for Federal Student Aid (FAFSA) on file with the Financial Aid Office. As a parent borrower, you will then apply for PLUS loans via the web, following these steps:
- STEP 1: Complete the PLUS Loan Request form. You should print and complete this form and return it to the Financial Aid Office.
STEP 2: Complete your online Master Promissory Note (MPN) for the PLUS Loan. You must have your PIN number available so you can sign this document electronically. (https://studentloans.gov)
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