Parents can borrow a loan to help pay for the cost of their child's education. The loan will be in the parent's name and will be based on credit history.
- 6.84% fixed interest rate, capped at 9%.
- 4.292% origination fee deducted from the principal loan amount at the time of disbursement if the loan is disbursed prior to Oct. 1, 2014
- 4.272%.origination fee deducted from the principal loan amount at the time of disbursement if the loan is disbursed on or after Oct. 1, 2015
- Repayment begins within 30 days of final disbursement.
- In-school deferment is available.
- To apply for a Federal Direct Parent Plus Loan, a parent will need to sign in with their federal PIN number and complete the PLUS Request Process at www.studentloans.gov.
- The Financial Aid Office will be notified when it is complete.