| Your Enrollment Status |
You must be enrolled at least half-time as an undergraduate or graduate/professional student in an eligible institution. |
You must be enrolled at least half-time as an undergraduate or graduate/professional student in an eligible institution. |
The student must be enrolled at least half-time as an undergraduate for Parent PLUS Loans and/or Graduate/Professional for Graduate PLUS Loans at an eligible institution. |
| How Much You Can Borrow |
Undergraduate students may borrow up to $3,500 the first year; up to $4,500 the second year; and up to $5,500 each year for the remainder of their undergraduate studies. A graduate or professional student, you may borrow up to $8,500 per academic year. |
Undergraduate students may borrow up to $3,500 the first year; up to $4,500 the second year; and up to $5,500 each year for the remainder of their undergraduate studies.
A graduate or professional student may borrow up to $12,000 per academic year. If you are an independent student (at least 24 years of age or graduate/professional student, or married, or have legal dependents other than a spouse, or a veteran of the Armed Forces) you may be eligible to borrow the Stafford Loan limits plus $4,000 each year for the first two years; $5,000 the remainder of undergraduate studies; and $10,000 per academic year as a graduate student. |
Parents and /or Graduate/Professional students may borrow up to the cost of attendance (minus other aid) per year. Borrowers must not have an adverse credit history. |
| When Your Payments Begin |
No repayment of your loan principal is required while you are enrolled at least half-time. Interest is paid by the U.S. Department of Education during this time. Repayment begins six months after your graduation or when you leave school. You may extend your repayment period up to ten years. |
No repayment of your loan principal is required while you are enrolled at least half-time. Interest accrues while you are in school, and may be paid on a monthly or quarterly basis. Your interest can be deferred, but it will be capitalized at repayment. Repayment begins six months after your graduation or when you leave school. You may extend your repayment period up to ten years. |
Repayment begins within 60 days of full loan disbursement for Parent PLUS Loans. Click here to apply for a PLUS loan pre-approval.
On Graduate PLUS Loans we will automatically defer payments while you are in school so you can focus on your studies and not worry about your student loans. There is no paperwork to complete-you automatically qualify. As an added convenience, we will postpone repayment on your Grad PLUS Loans to align them with your Stafford Loans. You will then have just one check to write each month for your loans. You are responsible for the interest that accrues during this time. Unpaid interest will be capitalized. Your repayment period may extend up to ten years. |