The Federal Direct PLUS Loan is an optional federal loan program for both graduate students and parents of dependent students who wish to access additional resources beyond what a student is eligible to receive.
About PLUS loans:
This credit-based parent loan option may cover up to the total cost of attendance (COA) as defined by Saint Martin's University, minus student aid.
The present interest rate for the Federal Direct PLUS Loan is fixed at 7.00 percent. All Federal Direct PLUS loans are charged a 4.264 percent origination fee upon each disbursement.
In the event a parent of a dependent student is denied after completing the Parent PLUS loan application, their student will be eligible for a high Unsubsidized Stafford loan amount.