Federal PLUS Loans

The Federal PLUS loan is a credit-based loan available to graduate students and to parents of undergraduate, dependent students. Borrowers who are approved may borrow up to the full cost of attendance, minus other financial aid.

Repayment on Federal PLUS loans begins within 60 days after the final disbursement of the loan.

Federal PLUS Interest Rate

The Federal PLUS loan interest rate is a fixed 6.84% for the 2015-2016 academic year.
The Federal PLUS loan interest rate is a fixed 6.31% for the 2016-2017 academic year.

Federal PLUS Fees

Beginning October 1st, 2016 the Federal PLUS Loan origination fee will be 4.276%

How to Apply for a PLUS Loan

*The 2016-2017 PLUS Application will be available on studenloans.gov on July 1, 2016

Deferment, forbearance and cancellation

Federal Parent PLUS loans that were disbursed after July 1st, 2008 may be deferred while the student is enrolled at least half-time.

PLUS loans that were disbursed before July 1st, 2008 may be deferred if the parent borrower is:

  • in school,
  • under specific economic hardships,
  • unemployed, or
  • on active duty in the military

PLUS loan borrowers who don't meet any of the above criteria, but who still are having difficulty making their loan payments, may appeal to the Federal Direct Loan Servicer for forbearance to temporarily reduce or delay their loan payments. In either case, interest will continue to accrue during the period of deferment or forbearance.