Undergraduate Parent PLUS Loans

Federal PLUS Loans enable parents with good credit histories to borrow to pay for college.

 

The loan's interest rate is fixed at 8.5% and repayment generally begins 45 days after the loan is fully disbursed, but parents may request a deferment while the student is enrolled. Lenders are offering different repayment options to help make college more affordable.

 

If a parent borrower is denied the PLUS Loan based on the parent’s credit, the parent may obtain an endorser for the loan or may authorize the student to borrow an unsubsidized loan of:

  • $6,000 maximum* for freshman and sophomore eligibility
  • $7,000 maximum* for junior and senior eligibility

 


Loan funds will be credited directly to the student’s account each semester.

 

 

* As of 2/09