FINANCIAL AID
Loans

1. Federal Stafford Loans
2. Deferred Payment Plans
3. Alternative Loans
4. Federal PLUS Loans

Federal Parent Loan Program (PLUS)

Federal Parent Loans for Students are available to parents of dependent students to help meet their children's educational expenses. Application forms are available from participating lenders and the Financial Aid Office. Student eligibility criteria are comparable to those for Federal Stafford Loans, and students must complete a FAFSA application. PLUS loan borrowers are subject to credit checks. All PLUS loan borrowers have a loan origination fee and insurance premium fee equal to 3% of the loan amount, which is deducted from the loan before it is disbursed.

The loan is disbursed in two or more payments. The maximum PLUS loan is equal to the cost of a student's education minus other expected financial aid. Federal PLUS loans carry a variable interest rate; repayment must begin sixty days after the loan is disbursed.