Types of Financial Aid

Federal Direct Parent Loans for Undergraduate Students (PLUS)

Facts: Requirements:
  • Loan program (must be repaid) for parents of dependent students.
  • Repayment begins within 60 days of the disbursement and the minimum monthly payment is $50 to $60 for each loan.
  • Offers up to $4,000 annually
  • Rate of interest is variable and by law, will never exceed 9 percent.
  • NOT based on financial need.
  • Application are available at Federal Direct Lending.
  • See Student Loan Default Prevention Program.

A student must...

  • Be enrolled at least 6 credit hours in an eligible program.  (If you are enrolled at least 6 credit hours per semester, you will receive the total amount of your loan awarded each semester.)
  • Complete Free Application for Federal Student Aid (FAFSA)
  • If you are applying for the Fall 2014, Spring 2015 or Summer 2015 semester, complete the 2014-15 FAFSA. If you are applying for the Fall 2015, Spring 2016 or Summer 2016 semester, complete the 2015-16 FAFSA.

A parent must...