The Federal PLUS Loan (Parent Loan for Undergraduate Student) is specifically designed to enable families to increase their federal financial aid at an affordable interest rate. The interest rate is fixed at 8.5%. PLUS Loan repayment differs from Stafford Loan - repayment begins 60 days after the second disbursement of the loan. Repayment of the loan is over a ten year period of time.
The parent of a Middlebury College undergraduate attending a Middlebury College summer Language School program may borrow a PLUS loan to help finance the cost.
Maximum PLUS Loan Eligibility
Parents of undergraduate students may borrow up to the cost of education, minus financial aid and other loans received. Before receiving a PLUS Loan, the school must determine the student's eligibility for the amount borrowed. The parent borrower must be credit worthy.
Requirement:
To apply for a PLUS Loan, click here.
To view our Suggested Lender List, click here.