The Federal Direct PLUS Loan Program allows graduate students and parents of dependent students to borrow long-term, low-interest funds to help meet education expenses. An absence of negative credit history must be shown to qualify for this loan. The maximum Federal Direct PLUS Loan amount is calculated by subtracting the total aid awarded to the student from the cost of attendance. To request the Federal Direct PLUS loan, please visit www.studentaid.gov. If a parent of a dependent student is denied a Federal Direct PLUS loan, the student may be eligible for additional unsubsidized Stafford Loans. Federal Direct PLUS loans must be applied for each year, as they are not automatically renewed.
Parent PLUS Loan Details |
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| 8.05% fixed (effective July 1, 2023) | |
| Net fee per disbursement: | 4.228% (for loans disbursed prior to October 1, 2024) |
| Repayment: | Begins 60 days after loan is fully disbursed each year; options may be available for deferment |
| Borrower Requirements: |
To be an eligible Federal Direct Parent PLUS Loan borrower, you must:
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| Master Promissory Note | Required |
Graduate PLUS Loan Details |
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| 8.05% fixed(effective July 1, 2023) | |
| Net fee per disbursement: | 4.228% (for loans disbursed prior to October 1, 2024) |
| Repayment: | Begins 60 days after loan is fully disbursed each year; automatic deferment may be available while enrolled at least half time |
| Borrower Requirements |
To be an eligible Federal Direct PLUS Loan borrower, you must:
|
| Master Promissory Note | Required |
| Loan Entrance Counseling | Required |