Federal PLUS Loan
PLUS Loans are also administered through the US Department of Education and are available to parents of dependent undergraduate students to meet educational costs.
Parents may borrow up to the cost of attendance minus all other financial assistance that the student is awarded. Eligibility for a Plus Loan is based on credit worthiness of the parent borrower. Please contact our Financial Aid office for assistance.
Interest is charged during all periods. For current interest rate and origination fee information, refer to the Federal Student Aid website. Repayment begins 60 days after the funds are fully disbursed, and the repayment term is set to 10 years. Parents have the option of deferring repayment on Parent PLUS Loans while the undergraduate student on whose behalf they borrowed the PLUS Loan is in-school and for a six-month grace period after the student graduates or drops below full-time enrollment.
Plus applications should be completed online and should be signed with the FSA ID the parent used to sign the FAFSA. Parent(s) are also required to contact the Financial Aid Office once the application has been completed, as parents will be required to complete additional paperwork with the Financial Aid office for our office to proceed with loan processing.