麻豆网站列表

| | | | |  
Toggle Sub-Menu:

PLUS Loans

 PLUS Loans

Parent PLUS for Parents of Dependent Students and Grad PLUS for Graduate Students

The interest rate on a PLUS loan that first disburses on or after 7/1/23 and before 7/1/24 is fixed at 8.05%. PLUS Loans have a 4.228% origination fee for loans first disbursed on or after Oct. 1, 2021 through Sept. 30, 2024.  The fee will be proportionately deducted automatically by the federal government from each loan disbursement. Interest is charged from the date of the first disbursement until the loan is paid in full. Repayment of principal and interest begins within 60 days after date the loan is fully disbursed unless an authorized deferment of principal is granted by the lender to the borrower. There is a check box on the promissory note for the deferment while the student is enrolled. Check with your lender about deferment of payments while the student is in school.

This program has some great advantages over other forms of educational financing such as second mortgages for education or private loans.

  • Parent Plus: The Federal Direct Parent PLUS Program provides loans to parents or step parents of eligible dependent students who need additional financial assistance in meeting post secondary educational expenses. Eligibility is not based on income. The parent borrower must not have an adverse credit history (a credit check will be done by Direct Loans). This program is intended to supplement the Federal Direct Loan Program. Parents may borrow a maximum of the cost of education (tuition, books, room & board and personal expenses) less other forms of financial aid.
  • Grad Plus: The GRAD PLUS Loan Program for the approaching academic year is up to their cost of attendance minus other estimated financial assistance. The terms and conditions applicable to Parent PLUS Loans also apply to Graduate PLUS loans. These requirements include a determination that the applicant does not have an adverse credit history (a credit check will be done by Direct Loans), repayment beginning on the date of the last disbursement of the loan. The loan will be proportionately deducted automatically by the federal government from each loan disbursement. Interest is charged from the date of the first disbursement until the loan is paid in full. Lenders will defer repayment while student is in school. Applicants must complete the . They also must have applied for their annual loan maximum eligibility under the Federal Direct Unsubsidized Loan Program before applying for a Grad PLUS Loan. 

    Graduate students will need to complete a 麻豆网站列表 Grad PLUS Application below.

Direct Loans will approve or deny a PLUS loan based on credit. Direct Loans will notify you by letter or email, if the loan is approved or denied. It is the borrower鈥檚 responsibility to determine if their credit was approved or not.

Application Procedures - Parents/Students must apply each year. You must have your loan application processed through 麻豆网站列表. If the PLUS loan is approved, you will need to complete a Master Promissory Note (MPN) at the Federal Direct Student Loans website:  https://studentaid.gov

Grad PLUS borrowers will also have to complete an entrance counseling at the previous website, if one has not already been completed.

麻豆网站列表 cannot process a Pre-Approval through the Federal Direct Student Loan program, you must submit your loan request through 麻豆网站列表. We only acknowledge PLUS denials that are initiated by a PLUS application through us.

Cookie Acknowledgment
This website uses cookies to collect information and to improve your browsing experience. Please review our privacy statement for more information.