Loan Programs and Terms for Parents
Federal Direct PLUS Loan
Details
- Borrowing limit of the full cost of attendance and loan fees, less any financial aid
- Origination fee of 4%
- Interest rate fixed at 7.9% begins accruing immediately upon disbursement
- Repayment begins within 60 days of disbursement
- No income restriction or needs test
Requirements
- Free Application for Federal Student Aid (FAFSA)
- Federal Direct Loan Request Form [pdf]
- Satisfactory credit check required for loan approval
- Promissory Note
- Loan Application on the Federal Direct Loan website, updated for the upcoming year every May 31