Parent PLUS loans are government-insured loans made by the U.S. Department of Education for parents of traditional undergraduate dependent students. The Parent PLUS loan is non-need-based, for parents to borrow on behalf of their student. The availability of the loan is based partly on the parents' creditworthiness. Parents may borrow up to the cost of education less other financial aid for their child. Interest is paid by the parent and there is no grace period. Read the Parent PLUS Loan FAQS for more detailed information. View interest rates and fees.
Repayment starts within 60-days of the final disbursement of the funds for the given academic year. Parents who wish to defer repayment until after their student graduates should go to StudentLoans.gov for more information.
NOTE: Lender for Federal Direct and PLUS loans
The lender for the Federal Direct loans and PLUS loans is the U.S. Department of Education—not a bank or financial institution.
If you have been awarded a Parent PLUS Loan, please follow these steps to accept the award:
The Direct Loan Program will send you a loan disclosure statement once your loan has been processed. It will show the total amount of your loan, the disbursement amounts and the estimated disbursement dates.
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