Federal Parent Loan

Loans + Types of Aid + Financial Aid + Admissions
Federal Parent Loan for Undergraduate Students (PLUS)
Amount Varies-Not to Exceed Cost of Attendance
 
This is a loan to the parent not the student. Additional Unsubsidized Stafford Loan funds are available to the student if the parent is denied the loan from the lender.    
 
PLUS Loan Origination Fees
The net origination fee of 2.5% is deducted proportionately from each loan disbursement. By law, the total origination fee is 4.0%; however Direct Loans currently offers a 1.5% rebate on this origination fee. If you fail to make 12 on time monthly payments, a charge for the difference between the 2.5% origination fee and the 4.0% origination fee will be added to the outstanding balance of the loan.
 
Repayment
  • Begins 60 days after loan is fully disbursed
  • Interest begins at disbursement
  • 7.9% fixed interest rate
  • Monthly payment $12.08 per $1,000 borrowed, minimum payment $50
  • Ten year repayment term
  • .25% interest rate reduction for auto debit
  • No penalties or extra fees for early repayment
  • Loan Calculator 
 
Application Process
  1. Bryan College Information Sheet
  2. Master Promissory Note – Must have U.S. Department of Education PIN.