But first, learn a little more about the PLUS loans available to you.
Federal Direct Parent PLUS Loan
- Federally funded loan program available to parents/step-parents of undergraduate dependent students
- Eligibility does not require demonstrated financial need
- A Free Application for Federal Student Aid (FAFSA) form is required
- Student must be enrolled at least half time (6 credits) in a degree or eligible certificate program
- May borrow up to the cost of attendance minus financial aid per academic year
- Interest rate is fixed at 7.54% beginning July 1, 2022, and repayment begins 45-60 days after the second disbursement. Deferred payment options are available
- Origination fees for loans disbursing on or after October 1, 2020 is 4.228% (subject to change)
- Parent/stepparent must complete an Online Master Promissory Note
Federal Direct GRAD PLUS Loan
- Federally funded loan program available to graduate students
- Eligibility does not require demonstrated financial need
- A FAFSA form is required
- Student must be enrolled at least half time (6 credits) in a degree or eligible certificate program
- May borrow up to the cost of attendance minus financial aid per academic year
- Interest rate is fixed at 7.54% beginning July 1, 2022, and repayment begins 45-60 days after the second disbursement. Deferred payment options are available
- Origination fees for loans disbursing on or after October 1, 2020 is 4.228% (subject to change)
- Graduate student must complete an Online Master Promissory Note