Parent PLUS Loan
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PLUS Loan Borrower Benefits
With rising tuition costs, the Parent Plus loan is a practical way to fund your child's education. While Stafford loans and other financial aid may help to cover some costs, they usually are not enough to cover what is due. The PLUS loan can be used to pay tuition and any eligible school expenses, minus any other aid the child receives. Parent Plus loan benefits include:
- Fixed 8.5% interest rate
- 0.25% repayment interest rate credit when payments are set up for automatic debit from a bank account
- Fund up to the cost of education minus other aid received
- Deferment and forbearance options if you experience financial difficulties
- 10 year repayment term
The primary benefit is that families can borrow federally guaranteed, low interest loans to help pay for their child's education, without needing to worry about collateral, need-based forms, or FAFSA preparation time. Use our online application to Apply Today!
