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Federal Direct Loan Programs Parents

 

Parent Direct PLUS Loan

Eligibility Requirements

  • U.S. Citizen or permanent resident
  • Be the parent of a dependent undergraduate student
  • Satisfactory credit history (income to debt ratio is not considered)
 Annual Limit Cost of Attendance minus other financial aid you are recieveing
Interest Rate Please see Federal Direct Loan Interest Rates page
Fees

4.204% origination fee for loans with a first disbursement between July 1, 2013 and November 30, 2013

4.288% origination fee for loans with a first disbursement on or after December 1, 2013

Source U.S. Department of Education

 

Please note that in order to be considered for a Parent PLUS Loan, your parent must apply on-line at www.studentloans.gov.