FEDERAL DIRECT PLUS LOAN (PARENT LOAN FOR UNDERGRADUATE STUDENTS)

1. Is available to parents of eligible undergraduate dependent students. The student must meet the Standards of Satisfactory Academic Progress, be degree seeking, and be enrolled in IRSC classes that count toward degree completion for at least six credit hours per term.
2. Is credit based.
3. The Federal PLUS loan has a fixed interest rate of 7.9%.
4. Repayment begins on the date of disbursement.
5. May not exceed the student’s cost of attendance less other aid.
6. Parents will determine how they want the loan funds to be disbursed after fees are paid (to the student or to them).