Parent Loan for Undergraduate Students (PLUS)

The Federal Direct 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. Like the Stafford Loans for students, the U.S. Department of Education is the direct lender of the Parent PLUS. Generally, repayment must begin within 60 days after the Parent PLUS is fully disbursed. There is no grace period for this loan. This means interest begins to accrue at the time the first disbursement is made. Parents must begin repaying both principal and interest while students are in school.

Loan Repayment Calculator provided by FinAid.org

Application necessary	FAFSA (Free Application for Federal Student Aid)
Notification of eligibility provided by	UO Financial Aid Award Letter
Notification is a continuous process beginning in April to students that have applied for admission to the UO.

Three term maximum	Limited to financial aid eligibility
Interest rate	Fixed at 7.9%
Origination fee per disbursement	4%
Interest accrues while the student is enrolled at least half time	Yes

Parent PLUS Application Form required	Yes
The parent applying to be approved for the Parent PLUS will need to complete a Parent PLUS Application Form included with the student’s UO Financial Aid Award Letter packet.
Entrance Counseling required	No
Master Promissory Note required	Yes

Answers to Frequently Asked Questions are available here.