Federal Parent Loan for Undergraduate Students (PLUS)

The PLUS program assists parents of dependent students in paying college costs. Loan applications are certified by the campus financial aid offices and funded through the Department of Education.

Parents are responsible for repayment which begins 60 days after the origination of the loan. 

The yearly loan limit is the school’s financial aid cost of attendance, minus any other financial aid the student plans to receive.

Borrowers are subject to a variable interest rate with a cap of nine percent. This rate is also recalculated each year and becomes effective on July 1. The current rate is 6.41 percent.

 

 

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Written by Tricia Stephens   
Last Updated on Tuesday, 10 December 2013 17:48