Parent Loans

Parent Loans

The Federal Parent Loan for Undergraduate Students (PLUS) for the 2008-2009 academic year is an 8.5% fixed rate parent loan for qualified borrowers. Parents may borrow up to the cost of education minus financial aid. If the parent borrower applies for the PLUS loan and is denied, the student may borrow additional funds with the Unsubsidized Federal Stafford Loan program or the parent borrower could reapply with an endorser. Origination and/or guarantee fees will not exceed 4% of the loan. Repayment and interest begin 60 days after the loan is fully disbursed. Repayment extends up to 10 years and there are no prepayment penalties.

You may apply for a PLUS Loan online directly with our loan guarantor, American Student Assistance at www.amsa.com/direct or you may print the PLUS Loan Request Form and fax this back to the Office of Student Financial Services at (617) 735-9939.