The Parent Loan for Undergraduate Students (PLUS) is a federal loan that a parent borrows to help their child (dependents only) pay for educational expenses. The parent borrower must have acceptable credit. Students whose parent has been denied a PLUS may be eligible to receive additional unsubsidized Stafford loan funds.
Federal PLUS Loan disbursements are sent directly to the financial aid office in at least two equal payments. The first payment is due no later than 60 days after the date the loan is fully disbursed. Under certain conditions, borrowers may request a deferment of principal and interest. Interest accrues during deferment periods. Contact the lender to learn more about repayment options.
Rates and Fees
The Federal PLUS Loan Program interest rate is set by the U.S. Department of Education. Interest rates vary and change annually. The Federal PLUS Loan Program Guarantee and Origination fees are the same as the Federal Direct Loan Program.
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How to Apply for a PLUS Loan
Step 1: To begin the PLUS application process, both the student and parent must use the same FSA ID used to sign the students FAFSA. The FSA ID is a username and password combination used to log into the U.S. Department of Education online systems.
Step 2: Complete the Parent PLUS loan application.
Step 3: Complete the Master Promissory Note.
Step 4: Complete the Federal PLUS Loan/Parent Request for Loan Certification
For questions, contact a representative from the Office of Financial Aid at (501) 812-2289 or e-mail [email protected].
Applying for Aid
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