Federal Direct PLUS Loans

  

Loans

There are two types of Federal Direct PLUS loans. These loans are available to parents of dependent students and graduate students. 

Federal Direct Parent PLUS Loan

The Federal Direct Parent PLUS Loan for undergraduate students is a credit-based loan available to biological or adoptive parent of dependent undergraduate students who are enrolled at least half-time (6 credits) in a degree seeking program. The student must be making Satisfactory Academic Progress (SAP). The interest rate is variable and adjusted each year on July 1. 

There is also an origination fee which is a percentage of the total loan amount which is deducted before the loan is credited to student's billing statement. Parents should consider the origination fee when determining the amount of the loan request. 

Learn more about the Federal Direct Parent PLUS loans. 

Who can borrow: U.S. citizens and eligible non-citizens can apply.

Maximum amount: The loans cover the cost of attendance minus other aid.

Repayment: Payment begins 60 days after the last disbursement of the year is made. Parent may request deferment of repayment while the student is in school and for up to 6 months after the student graduates, drops below half-time or withdraws from school. 

How to apply: Complete the credit-based Parent PLUS Application. 

Other requirements:

Federal Direct Grad PLUS Loan

Federal Direct Grad PLUS loan is a credit-based loan available to students attending graduate school who are enrolled at least half-time in a degree seeking program. The student must be a U.S. citizen or eligible non-citizen and making Satisfactory Academic Progress (SAP). The interest rate is variable and adjusted each year on July 1. 

There is also an origination fee which is a percentage of the total loan amount which is deducted before the loan is credited to student's billing statement. Students should consider the origination fee when determining the amount of the loan request. 

Learn more about the Federal Direct Grad PLUS loans. 

Who can borrow: U.S. citizens and eligible non-citizens can apply.

Maximum amount: The loans cover the cost of attendance minus other aid.

Repayment: Student may request deferment of repayment while the student is in school and for up to 6 months after the student graduates, drops below half-time or withdraws from school. 

How to apply: Complete the credit-based Grad PLUS Application. 

Other requirements: