What are the repayment terms for a Direct Parent PLUS loan?
A. Repayment begins 60 days after the loan is fully disbursed, and extends up to 10 years. However due to a recent bill passed by congress Parents can choose to defer payments on a Plus loan until 6 months after the date the student ceases to be enrolled at least half time. Accruing interest can either be paid by the parent borrower monthly or quarterly, or be capitalized quarterly. To apply for the PLUS loan, go to www.stephens.edu/plussteps. The borrower must complete the credit check process and sign a Direct PLUS Loan Master Promissory Note.
