Parent PLUS loan terms

  • As of July 1, 2014 the fixed interest rate for PLUS loans is 7.21%. For additional information regarding interest rates on the PLUS Loan, please visit the Direct Loans for Students website.   
  • A processing fee of 4.292% is assessed by the Federal Loan Processor and deducted at the time of funds being released.
  • Repayment begins 60 days after the final disbursement of the academic year.  If requested, the Department of Education offers other repayment options. Contact the Federal Direct PLUS Loan Servicer at 1-800-848-0979 for detailed information.
  • The parent is obligated to repay the full amount of the loan and accrued interest. Interest begins to accumulate immediately upon initial release of funds.