PLUS Loan Eligibility
PLUS Loans are available to students who are all of the following:
- Dependent students
- Part-time or more
- Undergraduate
You must be a US citizen, national, permanent resident, or have other special status.
PLUS Loan Highlights
Borrowers who use PLUS Loans may enjoy:
- Higher loan amounts after other loans are exhausted
- Flexible repayment options (including consolidation)
- No prepayment penalty
Details on PLUS Loans
If youll use a PLUS Loan, be aware of the following:
- Parents must pass a credit check
- You may pay a fee of up to 4%
- You must repay the loan
- Loans issued after July 2006 have a fixed 8.5% APR
- Interest will not be subsidized
- Repayment begins 60 days after the loan is made no grace period
How to Get a PLUS Loan
PLUS Loans are for parents you might hear them called Parent PLUS Loans. A parent (not the student) completes a PLUS Loan application to get the ball rolling. Ask your financial aid office for this application.
How Much Can I Borrow?
The maximum loan depends on your cost of attendance and any resources you get. You cant borrow more than it costs for school, but you can include a variety of costs when calculating cost of attendance including books, supplies, and more.
For Additional Information
Your Financial Aid office is really the best place to go with questions. You can also visit:
- The Department of Educations loan page (where you can view the Student Guide)
- The Federal Student Aid site

