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PLUS Loan

Eligibility

  • Student must complete FAFSA
  • Dependent undergraduate students enrolled at least half time
  • Contingent upon credit approval
  • Must meet citizenship criteria
  • Must complete a Master Promissory Note and Entrance Counseling for parent borrowers

Interest Rates

  • Fixed interest rate of 6.31% for loans first disbursed on or after July 1, 2016 and before July 1, 2017
  • Fixed interest rate of 7% for loans first disbursed on or after July 1, 2017 and before July 1, 2018
  • Interest accrues as soon as the first disbursement is made.
  • For more information on interest rates, visit the Department of Education's website Federal Student Aid.

Loan Fees

First Disbursement Date Loan Fee
On or after Oct. 1, 2016, and before Oct. 1, 2017 4.276%
On or after Oct. 1, 2017, and before Oct. 1, 2018 4.264%

Loan Limits

  • Maximum amount is cost of attendance minus any other financial aid the student receives; no minimum award amount

Repayment

Please visit the Department of Education's website Studentloans.gov for detailed information or contact the lender.

Apply for a Federal Direct Parent Loan for Undergraduate Students (PLUS)

  • Online PLUS Request Process available through the Department of Education. Parents will need their FAFSA PIN to log in to the Department of Education's secure site.
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