PLUS Loan for Undergraduates
2008-09 Lender Information

Compare the benefits and incentives offered by our preferred lenders, and apply using the links provided on our lender page.

You may borrow from any lender you wish.

The parents of dependent undergraduate students may borrow funds through a PLUS loan. To receive a PLUS loan, they will be required to pass a credit check. If they do not pass the credit check, they still may be able to receive a loan if someone, such as a relative or friend who is able to pass, agrees to co-sign the loan, promising to repay it if your parents should fail to do so.

The yearly limit on a PLUS loan is equal to your cost of attendance minus any other financial aid for which you are eligible. For example, if your cost of attendance is $6,000 and you are eligible for $4,000 in other financial aid, your parents could borrow up to $2,000. The interest rate is fixed at 8.5%. There is an origination fee of 3%. Unlike the Stafford loan, repayment of the PLUS Loan begins sixty days after the final disbursement. In addition, interest begins accruing at the point of first disbursement. Under certain circumstances, your parents may receive a deferment on their loan, but first must provide documentation and continue to make payments until a deferment has been granted.

In order to serve you best, we have researched and selected lenders through a competitive bidding process that emphasized pricing, customer service and the processing experience of the lender.  These lenders are Nellie Mae, Access Group and SunTrust.  Students and parents are free to select any lender of their choosing; we will provide the same level of processing regardless of lender choice.  If you would like to borrow through a lender other than one of the listed lenders, please inform our office as soon as possible to ensure timely processing.

2007-08 Lender Information - THIS IS FOR 2007-2008 ONLY!! PLUS borrowers for 2008-2009 CANNOT use this link!

Compare the benefits and incentives offered by our preferred lenders, and apply using the links provided on our lender page.

You may borrow from any lender you wish.

The parents of dependent undergraduate students may borrow funds through a PLUS loan. To receive a PLUS loan, they will be required to pass a credit check. If they do not pass the credit check, they still may be able to receive a loan if someone, such as a relative or friend who is able to pass, agrees to co-sign the loan, promising to repay it if your parents should fail to do so.

The yearly limit on a PLUS loan is equal to your cost of attendance minus any other financial aid for which you are eligible. For example, if your cost of attendance is $6,000 and you are eligible for $4,000 in other financial aid, your parents could borrow up to $2,000. The interest rate is fixed at 8.5%. There is an origination fee of 3%. Unlike the Stafford loan, repayment of the PLUS Loan begins sixty days after the final disbursement. In addition, interest begins accruing at the point of first disbursement. Under certain circumstances, your parents may receive a deferment on their loan, but first must provide documentation and continue to make payments until a deferment has been granted.

In order to serve you best, we have researched and selected lenders through a competitive bidding process that emphasized pricing, customer service and the processing experience of the lender.  These lenders are Access Group and Citibank.  Students and parents are free to select any lender of their choosing; we will provide the same level of processing regardless of lender choice.  If you would like to borrow through a lender other than one of the listed lenders, please inform our office as soon as possible to ensure timely processing.