Who is eligible for a PLUS loan?

Parents of full-time and half-time dependent undergraduate students who are U.S. citizens or permanent residents are eligible.

What is the interest rate on a PLUS?

The interest rate for the PLUS is variable, and may change annually, but will never exceed 9%. The PLUS interest rate is 6.10% for loans disbursed July 1, 2005 through June 30, 2006.

I'm a parent loan customer. Can this loan be transferred to my child's name?

No. Because you signed the promissory note, your name must remain on the account and you must ensure that payments are made as scheduled. Someone else can make payments for you, but the loan is in your name.

I'm a parent loan customer. How can I postpone my payments while my child is still in school?

You may be eligible to defer your PLUS principal and interest payments based on your child's enrollment. If you do not qualify for in-school deferment, you may still be eligible for other types of deferment. Otherwise, you may want to consider applying for a different repayment option—or for forbearance—to postpone your payments.

What is the best parent option for paying for college?

A Sallie Mae PLUS loan. Learn more about PLUS.

I'm a parent loan customer. Can bills be sent to my child?

No. Because you signed the promissory note, we can't make your child the contact for any communication about your loan.