Credit approval may be required. Funds from this program must be repaid. PLUS loans are for parent borrowers and provide additional funds for educational expenses. A PLUS loan enables parents to borrow the cost of education minus other aid. Interest rates for these loans are set each July, and begins accruing upon a first disbursement.
PLUS loans are limited to parents with a favorable credit history.
All Federal Family Education loans have a maximum repayment period of ten years and must be repaid. Western Technical Institute is a proud participant in Year Two of the William D. Ford Federal Direct Loan Program. This program offers Subsidized, Unsubsidized and Parent loans directly from the Federal government through the school. The interest, fees, loan eligibility and limits are the same as for the Federal Family Education Loan program. The grace period for the subsidized, accruing interest on the unsubsidized portions and the need for parents to begin repayment after disbursement are also parallel.