The interest rate is variable. Loans are available both subsidized and unsubsidized. The repayment period begins six months after the student graduates, withdraws or enrolls less than half-time. The minimum interest rate for consolidation is 9 percent. The interest rate on a PLUS loan is currently the T-bill rate plus 3.10 percent, is capped at 9 percent and repayment begins within 60 days after disbursement of the loan.
Loan is an unsecured, variable rate loan.
There is no income cap to qualify.