Federal Direct PLUS Loans

Parent or Professional/Graduate Students

Annual Loan Limits Cost of education less any other financial aid awarded
Aggregate Loan Limits No limit; eligible borrowers can borrow up to the cost of education
In-School Interest Paid by the borrower*
Grace Period No grace period; the parent borrower may request to postpone repayment until six months after the student ceases to be enrolled at least half time. Graduate and professional students may defer payments while enrolled and request forbearance for six months after they cease to be enrolled at least half time.
Repayment Terms The first payment is due within 60 days after the loan is fully disbursed, unless repayment has been postponed or deferred. The minimum monthly payment is $50. The maximum repayment term is 10 to 25 years and is based on the total loan balance.

* The borrower has the option of making interest payments while he/she (or, in the case of the Parent PLUS loan, the dependent student) is in school or waiting until repayment. Interest not paid will be capitalized (added to the principal) at the point the loan enters repayment.