Parent PLUS Loan
The Parent Loan for Undergraduate Students (PLUS) allows a parent of a dependent student to borrow any amount up to the student’s cost of attendance minus all financial aid the student may receive for the enrollment period. The interest rate is a fixed rate of 8.5% for any loans disbursed after July 1, 2006. The PLUS loans have a 3% origination fee and a guarantee fee of 1%. However, most guarantee agencies waive the guarantee fee. Repayment begins within 60 days after the final disbursement for the loan period and the interest starts accruing at the time of the first disbursement.
|
Go Hogs!