The PLUS loan is a federally sponsored education loan for parents of undergraduate, dependent students. Recently, through the Higher Education Reconciliation Act, graduate and professional students will be eligible for this loan effective July 1, 2006.

A PLUS loan lets you borrow up to the full cost of education, including tuition and fees, room and board, book and supplies, transportation, and living allowance, less other financial aid.

 View The Brochure

Current Rates (Effective July 1, 2005 to June 30, 2006)

Interest Rate:                   6.10%
(T-Bill + 3.10%)
CAPPED AT 9.0%

Fees

Origination Fee:               3.0%
Guarantee Fee:*              0.0%
*Waived by most guarantors

Academic Year 2006—2007 (Effective July 1, 2006)

Interest Rate

Fixed Rate:                       8.50%
(T-Bill + 3.10%)

Fees

Origination Fee:               3.0%
Federal Default Fee*:      1.0%