Principal payments may be deferred until 6 months after graduation or when the student drops below 6 credits. This loan provides additional funds to students who do not qualify for other financial aid or who need additional money to meet their educational expenses. Approval for a PLUS loan is determined by the parent's credit worthiness. Repayment begins 30 days after the loan is disbursed. Check with the Office of Student Financial Services or a local bank for loan limits and interest rates as they change frequently.
Eligibility is limited to full-time students based upon New York State taxable income.