Interest will continue to accrue and will be added to your principal balance at the end of each forbearance period, to the extent permitted by applicable law.
Benefits are offered in up to three month increments, and capped at 12 months, in aggregate, over the life of the loan.
Department of Education makes Direct PLUS Loans to eligible parents and graduate or professional students through schools participating in the Direct Loan Program.
Important: Most schools require you to apply for a PLUS loan online at Student Loans.gov, but some schools have different application processes.
Policygenius does not allow the submission of personal information by users located within the EU.
Note: A Direct PLUS Loan is commonly referred to as a parent PLUS loan when made to a parent, and as a grad PLUS loan when made to a graduate or professional student.
The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.
The discount will not reduce the monthly payment; instead, the interest savings are applied to the principal loan balance, which may help pay the loan down faster.
Variable Rates: Starting variable rates range from 3.65% to 11.25% APR (with autopay), and will never exceed 13.95% (sometimes lower in certain states as required by law).
For variable rate loans, the variable interest rate is derived from the one-month LIBOR rate plus a margin of between 1.58% and 9.98%. Changes in the one-month LIBOR rate may cause your monthly payment to increase or decrease.
Parent Student Loans Fixed Rates: Fixed rates range from 5.05% APR to 11.71% APR (with autopay).