PLUS Loans

Federal PLUS Loans are available to parents of undergraduate, dependent students. The PLUS loan program is different from the federal student loan programs in several important ways:

  • PLUS loan funds may be used to fill the gap between the student’s other aid and the total cost of attending the school.
  • The PLUS loan program is federally backed, but access to funds is NOT guaranteed to the student’s parents. There is a credit check process and some PLUS applications are denied. Note: If a parent’s application for a PLUS loan is denied, we are then able to offer additional unsubsidized Stafford Loan dollars direct to that student – $4,000 for freshmen or sophomores, $5,000 for juniors or seniors. 
  • Repayment of the loan principle is not deferred, but begins about 60 days after the loan is fully disbursed. In most cases, this would be in March or April of the academic year for which the loan was issued.
  • The PLUS Loan interest is fixed at 8.5 percent. The standard repayment period is 10 years, with no penalty for prepayment.
Online Application for PLUS Loan