PLUS student loan

A PLUS Loan is a student loan offered to parents of students enrolled at least half time in eligible programs at participating and eligible post-secondary institutions or graduate and professional students at participating and eligible postsecondary institutions.
* Offered under Title IV of the Higher Education Act of 1965 (with subsequent amendments) and are therefore backed by the full faith of the United States Government

* Can be consolidated through the federal student loan consolidation program
* Become due for repayment immediately (ended as of July 1, 2008)
* The interest rate is fixed at 7.9% and charged from the date of the first disbursement until the loan is paid in full
* When taken by a parent, becomes a commitment by the parent, rather than the student
* Can be incurred in amounts that cover up to the entire cost of education (including living expenses), less other financial aid
* Offer different repayment plans, though there is no interest rate or accrual relief involved in any of the plans
* Eligibility is based on the parents or graduate students in question not having an adverse credit history

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