While the borrower is enrolled at least half-time there is no interest or principal to pay. Repayment of principal and interest begins six months after the student ceases to be enrolled for at least half-time. Awards vary depending on the students grade classification and dependency status. Borrowers who receive this loan must either make interest payments while enrolled or have the interest capitalized for repayment later. Repayment of principal begins six months after the students ceases to be enrolled for a least half-time.
Awards vary depending on the students classification and dependency status.
The Federal Direct Plus Loan is available to parents of dependent undergraduate students. This loan is not need based. Repayment of principal and interest begin 60 days after the loan is fully disbursed. Payment of principal may be postponed if deferment is granted. Parents may borrow up to the cost of attendance less any aid awarded.