Federal Direct PLUS (parent) loans
Federal Direct PLUS Loans
- Not need based, no FAFSA required.
- Contact Valpo's Financial Aid Office for an application, apply on-line, or print the form.
- Complete the electronic Master Promissory Note.
- Parents of dependent undergrads may borrow up to the cost of education less other aid.
- Credit check required. If parent fails credit test, student may borrow the unsubsidized loan.
- Payment of principal and interest begins 60 days after the final disbursement. (As longer as your student is enrolled at least half-time, you may apply for an in-school deferment for loans that have their first disbursement after July 1, 2008)
- A 2.5% federal origination fee is deducted from loan proceeds.
- Interest rate is fixed at 7.9%.
- Interest begins to accrue after first disbursement.
- Loan repayment information
