This program is identical to the Federal Stafford Loan with the exception that there is no in-school interest paid by the Federal government. Otherwise all other program rules are identical to the Federal Unsubsidized Stafford Loan. Parents need to contact the Financial Aid office to make application. Repayment normally begins 30 days after the loan is negotiated. However, you can delay making payments with proper certification at some lending institutions under certain conditions such as parent enrolled in college.
Good credit is a requirement.
Please realize interest is accruing during the delayed payment. Family income is not a criterion in obtaining parental loans. PLUS loans are made to the parents of undergraduate dependent students. The terms of the loans in the Federal Family Education Loan Programs are for new borrowers. Previous users of these loan programs remain at the established terms according to their original loan terms.