Federal Parent Loan for Undergraduate Students (PLUS)

The Federal Parent Loan for Undergraduate Students or PLUS is a federal loan program that allows parents of dependent undergraduate students to take out a loan to cover the difference between a student aid package and the actual costs of the university.

Facts about PLUS

  • Interest rate is fixed at 7.9 percent.
  • Payments begin 60 days after the final disbursement of the loan in the year it was borrowed. Parents can request that payments be deferred while the student is still attending school. Loan has a standard 10-year repayment schedule but no penalty for early repayment.
  • Origination fees—up front loan-processing fees—are fixed at 4 percent with an interest rebate of 1.5 percent.

To apply for a PLUS, download the PLUS Loan Request form from our Forms page and mail it to the Financial Planning Office.

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