Federal PLUS Loan Program
Many parents dream of sending their children to college. Our Federal PLUS Loan Program can help you get there. With a PLUS Loan, the parent is the borrower.

Am I eligible?

• A parent may borrow on behalf of their dependent undergraduate student(s) enrolled at least half-time in an eligible program.
• Eligibility for Federal PLUS loans is not based on financial need.

How much can I borrow?

• The financial aid administrator at the college your dependent is attending determines and certifies the loan amount. Please note that individual lenders may have borrowing limits. IDAPP does not have borrowing limits.
• You must not have an adverse credit history, as determined by the lender and according to criteria in federal regulations.

When do I have to repay the loan?

• Repayment begins shortly after the funds are disbursed.
• The repayment terms can be up to ten years.

What is the interest rate?

PLUS Loans have a variable interest rate and are adjusted annually on July 1. These loans cannot exceed 9.00% and apply even if you have a previous Federal PLUS loan(s) at another rate. The interest rate for new Federal PLUS loans disbursed on or after July 1, 2008 through is % and is based on the 91-day Treasury Bill +3.1%.

Note: To verify index information used in our interest rate calculation, go to: www.publicdebt.treas.gov

You may apply for a loan by filling out an online application
or download an application form, fill it out, and mail it to IDAPP.