Parents of dependent students may borrow a maximum of the cost of education minus other financial aid.
For the 2016-17 academic year, the interest rate will be a fixed rate of 6.31 percent. Interest accrues while the student is in school.* Standard repayment period is 10 years. A net 4.272 percent processing fee is deducted from the loan proceeds when the funds are disbursed. For loans in which the first disbursement is on or after October 1, 2016, the origination fee is 4.276 percent.
Repayment begins 60 days after the loan has fully disbursed.
*Parent PLUS loans are eligible for deferment. Find out more about Parent PLUS loan
Award is renewed only if all necessary forms are filed each year and students & parents continue to meet eligibility requirements.
The Office of Student Financial Aid provides undergraduate and graduate students with resources about types of financial aid and student employment.
FAFSA School Code: 003863
Questions or for more information, contact the Office of Student Financial Aid