PLUS Loans
PLUS Loans are available for eligible parents of students on financial aid, and also to eligible graduate degree and professional degree students.
Federal PLUS (Parent) Loans
Parents with a favorable credit history may borrow up to the total Cost of Attendance, minus any other aid received by the student. Interest accrues upon disbursement and repayment begins 60 days after the loan is fully disbursed. The current variable interest rate is fixed at 8.5%. If your parent is unable to borrow a PLUS loan due to adverse credit, you may submit a denial letter from a lender and be considered for Additional Unsubsidized Stafford Loan funds.
PLUS Loans for Graduate and Professional Degree Students (Grad PLUS)
Graduate and professional degree students are eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other estimated financial assistance. Repayment of the loan begins on the date of the last disbursement of the loan, and the loan accrues interest at a fixed interest rate of 8.5. Applicants are required to complete the FAFSA and must have applied for their annual loan maximum eligibility under the Federal Subsidized and Unsubsidized Stafford Loan Program before applying for a Graduate/Professional PLUS loan.
