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 = 9.08% (2024-25)
- Loan Origination Fee = 4.228% of loan amount
- For Additional information, visit studentaid.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 studentaid.gov . Both the application and the Master Promissory Note must be completed for loan approval.
