Some students may be eligible for deferment of the principal payment while in college. The federal government does not pay the interest payments on an unsubsidized Stafford Loan. Like subsidized Stafford Loans, unsubsidized Stafford Loans require two disbursements, as well as entrance and exit counseling. Federal PLUS Loans PLUS loans are available to parents of dependent students. These loans are provided by lending institutions.
Lenders require a credit check for prospective PLUS borrowers.
Repayment begins 60 days after disbursement. There is no grace period for these loans. The lender can supply information on deferments. Applicants for PLUS loans may be picked up in the Financial Aid Office. Call the Financial Aid Office for a loan entrance interview appointment.