Indiana College Costs Estimator

Parent PLUS Loan

  • Loans available to parents who are credit worthy. (Student must be a dependent undergraduate student enrolled at least half-time for parent PLUS borrowing.) Students whose parents cannot obtain a PLUS loan may be eligible to take out additional funds through the Direct Loan program.
  • Annual borrowing limit = student’s cost of attendance minus any other financial aid received.
  • Interest rate: Fixed at 6.84% for subsidized loans first disbursed between 7/1/2015 and 6/30/2016.
  • Historically, there have been no grace periods for PLUS loans and repayment usually begins 60 days following the first disbursement. However, parents may defer PLUS loan payments while the student on whose behalf they borrowed money is in-school and for six months after the student graduates; can also be deferred if the parents themselves are enrolled in college.