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Federal Direct PLUS Loan


The Federal Parent Loans for Undergraduate Students (PLUS) program provides loans through the government to parents of dependent undergraduate students and students in graduate and professional programs participating in the Direct Loan Program.

Who is Eligible?

PLUS borrowers do not have to show need for the program, but will have their credit checked.

How Much Money Can You Get?

Borrowers may borrow up to the cost of attendance minus any other financial aid received. There is no cap on annual or aggregate borrowing amounts.

Direct PLUS Loans

Loans made on or after July 1, 2006 have a fixed interest rate of 7.9 percent. There is a 4 percent fee deducted with each disbursement.

What Are Your Repayment Options?

Repayment of both principal and interest begins within 60 days of receiving the loan and extends from five to 10 years. For loans disbursed on or after July 1, 2008, the borrower has the option to delay the principal repayment start date until after the student graduates. The amount borrowed will determine the minimum monthly payment, but no payment will be less than $50 per month

Borrowers can choose a standard, extended or graduated repayment plan.