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Loans
Federal PLUS Loans
This loan is available to credit worthy borrowers who are either parents of dependent undergraduate students, or graduate students.
Under Direct Lending, the interest rate on a PLUS loan is fixed at 7.9%. There is a 4% origination fee deducted from the loan proceeds. Repayment begins sixty days after the final disbursement.
Parents of Dependent Undergraduate Students
PLUS loan money will first be applied to tuition and fees, with any remaining PLUS money being returned to the parent. To apply for the Parent PLUS loan, please complete the following steps:
- Complete the PLUS Request process
- Sign a Master Promissory Note
**Both items can be completed at www.studentloans.gov. Go to StudentLoans.gov to view supported browsers for that website.
Graduate Students
Graduate students are now eligible to borrow additional funding through the PLUS program. Graduate students may borrow up to the cost of attendance minus any other financial aid awarded. PLUS for GRAD borrowers are subject to the same requirements as PLUS parent borrowers and must be credit worthy.
Repayment begins sixty days after final disbursement of funds, but the loan is eligible for in-school deferment. It may be possible to pay interest only or reduced payments while you are enrolled at least half time. To apply for a PLUS loan for GRADS for the 2012-2013 year, you will need to complete the following:
- Complete the PLUS Request Process
- Complete the Entrance Counseling Interview
- Sign a Master Promissory Note
**All items can be completed online at www.studentloans.gov. Go to StudentLoans.gov to view supported browsers for that website.
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