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- Federal PLUS Loans
- PLUS Loans are variable-rate loans provided
by participating lenders to graduate students and parents of dependent
undergraduate students. The lender must perform a minimal check of the
borrower's credit history. There is a 10-year repayment schedule and deferment
options do exist. For graduate students, payments are automatically
deferred while in school. It is not
necessary for undergraduate students to file a FAFSA in order for
their parent to apply for a PLUS Loan. Graduate students MUST
file a FAFSA in order for their eligibility to be determined. For more
information, please click the link for our PLUS Loan Brochure below.
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Entrance Counseling
Entrance counseling is required ONLY for the
Grad-PLUS Loan. Parents of undergraduate dependent students do not
need to complete entrance counseling.
Complete on-line Grad-PLUS Entrance Counseling
(to be completed the first time you borrow a Grad-PLUS Loan)
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PLUS Loan disbursements are reduced by fees of
4.0%
paid to the lender and guaranty agency.
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Interest Rate
The PLUS Loan has a fixed interest rate of
8.5%.
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