Repayment begins within sixty days after final disbursement of the loan each academic year. An origination fee of 4 percent is charged on PLUS loans. A PLUS loan may replace the expected family contribution, but it cannot exceed the difference between the cost of education and other financial assistance. Loan consolidation is a way of lowering monthly payments by combining several loans into one consolidated loan at the time you enter repayment. The maximum repayment term is ten to thirty years depending on the amount borrowed.
Borrowers are able to consolidate any amount of eligible loans.
Interest is variable, capped at 8.25 percent. The result of a lengthier repayment term, however, is an increase in the total cost. The U of O Student Loan Program is intended for currently enrolled UO students who are experiencing financial difficulties, and have exhausted all other financial resources. The program converts a student's existing debt to a loan. Private loans are privately funded and are not based on need, so no federal formula is used to determine eligibility.