Federal PLUS Loan

Description	A Federal parent loan that enables parents to borrow for educational expenses if the student is a dependent and enrolled at least half-time in a degree program
Eligibility	Satisfactory Credit history Borrowers must be a student's natural or adoptive parent or a legal guardian (with the student as the legal dependent); or the spouse of a natural or an adoptive parent with income and assets considered in the calculation of estimated family contribution (EFC). The parent may not have any previous or current defaults on federal loans. Cannot be used to pay for a previous academic year If parents are not eligible for a PLUS loan, student may be eligible for an additional unsubsidized Federal Stafford Loan
Annual Loan Limit	Cost of Attendance minus any financial aid received
Interest Rate	8.5%
Fees	Up to 4% depending on Lender
Lender	Recommended Lender List
Disbursement	Twice a year at the beginning of each term awarded
Repayment	Begins 60 days after last disbursement of loan; borrowers who have a student with enrollment status of at least half-time may be eligible for deferment of repayment

Parents interested in applying for the Federal Parent Loan for Undergraduate Students ( PLUS ) will need to complete the PLUS Loan Request Form which has instructions and information pertinent to the program.
The PLUS Master Promissory Note is signed by the parents only once and is a valid promissory note for up to 10 years, however the PLUS Loan Request Form must be completed each year which will serve to inform Duke of the requested PLUS Loan amount.