Loan Features

  • Maximum annual loan amount = cost of attendance minus any financial aid
  • Available to custodial and non-custodial parents who are US citizens or permanent residents
  • You must file a FAFSA to be eligible
  • Standard repayment period is 10 years
  • Standard repayment begins 60 days after full loan disbursement
  • Fixed interest rate = 7.0 %
  • Loan Origination Fee = 4.264% of loan amount
  • For Additional information, visit studentloans.gov

How to Apply for a Federal Direct PLUS loan

To initiate a PLUS Loan application, you will need to complete the Federal Direct Parent PLUS Loan application and sign the Federal Direct PLUS Loan Master Promissory Note online at studentloans.gov . Both the application and the Master Promissory Note must be completed for loan approval.