The student must enroll for at least 6 credits for each semester in which the PLUS loan will be received. PLUS loans are only available to parents, step-parents, and legal guardians of dependent students. Non-exempt students must have registered with the Selective Service Administration. The student and parent must not owe a refund on any federal grants, must not have borrowed federal student loans in excess of annual or aggregate loan limits, and must not be in default on any federal student loans unless satisfactory payment arrangements have been made. The student and parent must be U.S. Citizens, U.S. Permanent Residents, or Other Eligible Non-citizens as defined by the U.S. Department of Education.
Interest begins accruing when the loan is disbursed.
Parents must begin repaying the loan 60 days after the final loan disbursement of the loan period. For fall-spring loans, parents must begin repaying the loan 60 days after the spring disbursement. PLUS loan payments cannot be deferred while the student is in school unless the parent is also enrolled half time in school or if the parent borrowed a previous PLUS before July 1992. Interest begins to accumulate at the time the first disbursement is made. The maximum repayment term for the Federal PLUS is 10 years.