Student Plus Program
The Student Plus Program is a new program offered by Graduate Leverage. It provides another choice for students and parents who do not want the parent to make payments on the Federal Direct Parent PLUS Loan. The University of Oregon provides this information solely for the benefit of students and adheres to our Code of Conduct.
The Student Plus Program is for
Dependent undergraduate students whose parents want the student to make the payments for the Federal Direct Parent PLUS Loan. The Student Plus Program allows for a parent to apply for a Federal Direct Parent PLUS Loan, but then signs a contract with Graduate Leverage arranges for the student to make the repayments. Repayment of the Student Plus Program may be deferred while the student is in school and Graduate Leverage bills the student while providing payment notifications to the parent after graduation.
The Student Plus Program is not for
Independent undergraduate students and graduate students are not eligible for the program. Because there is an additional cost, this program is not for students whose parents would take out the Federal Direct Parent PLUS Loan or otherwise contribute to college expenses. This program is for students seeking an option other than alternative student loans.
Student Plus Program vs. Alternative Student Loans
Alternative Student Loans typically have a variable interest rate that is higher than the Student Plus Program which has a fixed interest rate of 7.9%. In many cases this makes the Student Plus Program more affordable than alternative student loans.
Student Plus Program vs. Federal Direct Parent PLUS
The Student Plus Program uses the same Federal Direct Parent PLUS Loan as the underlying source of funds, except that Graduate Leverage manages the repayment and bills the student instead of the parent. There is a fee for this service and so the Student Plus Program is more expensive than the Federal Direct Parent PLUS Loan. However, it may be that the Student Plus Program is less expensive than alternative student loans.
To Apply
If you are interested in the Student PLUS Program, contact Graduate Leverage directly.
