Direct PLUS Loans

The Direct PLUS loan often bridges the gap between existing financial aid and the remaining cost of attendance.  Direct PLUS loans are available to students who are or will be enrolled at least half-time at an accredited school.  The lender will perform a credit check at the time of application.  To be approved, the applicant must not have an adverse credit history

Students apply for these loans annually through the following steps:

 

Direct PLUS Loan

Eligibility: U.S. Citizen, eligible non-citizen. Students with an F1 or F2 student visa or a J1 or J2 exchange visitor visa or a G series visa are NOT eligible for federal aid.

Amounts: Up to the cost of attendance minus other aid

Fee: 4.264%

Interest Rate: 7.60% fixed – interest accrues upon disbursement

Repayment: 10-25 years, depending on the total amount borrowed.  Click here to use the repayment calculator tool to explore the various options.

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