Parent Loans

The Federal Direct PLUS Loan is a non-need-based loan parents may borrow to cover remaining educational expenses-including tuition, housing and living expenses. The interest rate is fixed at 7.9% and interest accrues during the entire length of the loan. The minimum monthly payment is $50, and repayment begins 45-60 days after the loan is fully disbursed. Parents may request to defer repayment while the child they borrowed for is enrolled at least half-time, delaying repayment until 45-60 days after the student leaves school/drops below half-time enrollment. A credit check is performed on all applications.

Visit www.studentloans.gov for more information.