Plus Loan

A federal loan program available to parents and grad students. The PLUS Loan Application can be completed at studentaid.gov. The loan amount is determined either by the request or by the eligibility remaining towards the student’s cost of attendance. A credit check is required and will be processed by the Direct Loan Service. The current interest rate is 7.54%. Repayment is made through the Direct Loan Program and begins 60 days after the last disbursement of the loan is received. Usually the last disbursement is received in January. Borrowers have the option of waiting until six (6) months after the student ceases to be enrolled on at least a half-time basis.