Get Parent Plus Loan Request Form - The Office Of Scholarships & Student ... - Studentaid Unc

Unsubsidized direct loans come with significantly lower interest rates and origination fees. But the amount you can borrow each year is limited to $20,500. Graduate PLUS loans, on the other hand, let you borrow up to the cost of attendance, which is determined individually by schools.

The PLUS Loan Application allows you to: request a Direct PLUS Loan; change the amount of a Direct PLUS Loan you previously requested; authorize how the school may use your Direct PLUS Loan funds to pay for educational expenses.

The process to request Federal Direct Loan funds and disburse them into your student's Financial Account will take approximately 3-5 days.

Direct PLUS loans are federal loans that graduate or professional degree students or parents of dependent undergraduate students can use to help pay for education expenses. Direct PLUS loans have a fixed interest rate and are not subsidized, which means that interest accrues while the student is enrolled in school.

Direct Subsidized/Unsubsidized Loans have a lower fixed interest rate (6.8%) than Direct PLUS Loans (7.9%), and no interest is charged on Direct Subsidized Loans while you are in school at least half-time or during grace and deferment periods. Interest is charged on Direct PLUS Loans during all periods.

Public Service Loan Forgiveness for Parent PLUS Loans Parent borrowers may be eligible for Public Service Loan Forgiveness (PSLF) after making 120 qualifying payments (ten years). Parent PLUS loans are eligible if they are in the Direct Loan program or included in a Federal Direct Consolidation Loan.

Direct PLUS Loans are federal loans that parents of dependent undergraduate students can use to help pay for college or career school. PLUS loans can help pay for education expenses not covered by other financial aid.