Who it’s for

Parents of dependent undergraduate students

Eligibility

Your student must be:

• Your dependent
• Accepted for enrollment or already enrolled at least half-time at a school in the FFEL Program
• Seeking a degree, professional credential, or teacher state certification
• Maintaining satisfactory academic progress

You must be:

• A U.S. citizen or national
• Credit worthy

You both must be:

Advantages

A low-interest way for parents to help their dependent undergraduate students pay for tuition, fees, room and board, books, supplies, transportation, and living expenses
Preserves your retirement nest egg and your home equity
A PLUS loan can be taken out in addition to the student’s Stafford loan
Parents may borrow for multiple students
Parents can borrow up to the cost of attendance less other financial aid

Benefits

• Low interest rate
• $100 reduction in loan principal for deployed military and reserves
• Life and disability insurance included
• Free check-by-phone
• 24/7 account access and live help 8-5, M-F MT
• Combined statements for all loans
• Excellent customer service from a Wyoming-based nonprofit firm
  

Interest rate

8.5% fixed

Fees

3% origination fee
1% federal default fee

Annual loan limits

None

Repayment

You’re responsible to start repaying principal and interest after the loan funds are disbursed or within 45 days of the end date of a qualified deferment period