Federal Parent Loans for Undergraduate Students (PLUS)

PLUS loans are loans that are borrowed by parents on behalf of their dependent undergraduate students. This program gives parents with good credit histories an opportunity to borrow an amount each year that does not exceed the student's cost of education minus any financial aid received. The PLUS interest rate is variable but cannot exceed 9 percent for loans disbursed on or after October 1, 1992. For PLUS loans first disbursed after July 1, 2016, the interest rates will be fixed at 6.31%.

PLUS loans are disbursed in two payments and are made co-payable to the borrower and Gallaudet University. Any paper checks are forwarded to the borrower for endorsement and must be returned to Gallaudet to be applied to any of the student's outstanding institutional charges. Any amount in excess of the outstanding charges will be refunded to the borrower. PLUS loans are not subsidized, and interest and principal repayment begins within 60 days of the loan disbursement, once it's fully disbursed. Deferment of principal and/or interest may be available on PLUS loans. Borrowers should contact their PLUS loan servicer for further information.

*Origination Fee for loan disbursement for Direct PLUS loans:

  • On or after October 1, 2015, and before October 1, 2016
    • 4.29% Loan Fee

  • On or after October 1, 2016 and before October 1, 2011
    • 4.27% Loan Fee