The Parent Loan for Undergraduate Students (PLUS) is a government-guaranteed, no-collateral loan with flexible repayment options and low variable interest rates. Parents of dependent students may borrow up to the full annual cost of education, minus any other financial aid. The PLUS Loan is not based on financial need. PLUS Loan credit requirements are typically more lenient than consumer credit requirements.
Benefits and Advantages:
- Flexible repayment options from 10 to 30 years, depending on loan balance
- No prepayment penalty
- Possible tax deductibility of interest payments (please consult your financial advisor)
- Deferments available to qualified borrowers
- One-time origination fee of 3% is paid to the federal government to help offset program benefit costs as well as a 1% federal default fee.
For a quick comparison of our preferred lenders, click on Preferred PLUS Lenders. You will need to create a log in account. From there you can click on the PLUS Loan tab for specific PLUS loan benefits.
For more information, contact the Financial Aid Department at (916) 577-2233 or email: finaid [at] jessup [dot] edu.
