College Planning & Financial Aid
In the college financial aid process , what is a Federal PLUS loan ?
Federal PLUS loans are low interest rate loans for parents or guardians of dependent, undergraduate students. Loans are based on credit worthiness. Parents may borrow up to the cost of attending school, minus any financial aid received. Repayment of the loan begins within 60 days of receipt of full disbursement of the loan with a repayment term of up to 10 years. A 3% origination fee may apply.
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