Federal Direct Parent PLUS Loan
The Federal Direct Parent PLUS Loan is offered to a qualified parent of a dependent undergraduate student with or without financial need but the student must have financial aid eligibility.
| Three term maximum | Limited to financial aid eligibility |
| Interest rate | Fixed at 7.9% |
| Net fee per disbursement | 2.5% |
| Repayment begins | 60 days after loan is fully disbursed |
| Applying for deferment | Contact Direct Loan Servicing Center 1-800-848-0979 |
| Federal Direct Parent PLUS Application Form required | Yes |
| Entrance Counseling required | No |
| Master Promissory Note required | Yes |
How the Federal Direct Parent PLUS Loan compares to other funding options:
| vs. Cashing Investments | vs. Home Equity Loans | vs. Using 401K Funds |
