Federal Direct Plus Loans

The Federal Direct PLUS Loan is a credit-based loan available to parents (biological or in some cases a step-parent) of dependent students to help them pay for educational expenses. Parents can borrow up to the total cost of attendance minus all other financial aid received per eligible dependent student. There is an origination fee on a PLUS loan. The payment schedule is determined by the total amount borrowed. Payments may be deferred while the dependent student is enrolled at least half time and for a period of six months after that date. Interest does accrue on this loan while the student is in school. For information on federal student aid programs, visit: www.studentaid.gov.