Your grace period will also start if you remain in school but are enrolled less than half time in your program of study. Payments can, however, be higher based upon how much you borrow. Available for parents of dependent undergraduate students. Parents should apply for a PLUS Loan only after their dependent student has exhausted all other financial aid including Stafford Loan options. Payments on the loan begin within 60 days of loan disbursement.
Parents can borrow up to the cost of attendance less any other financial aid received.
There are no pre-set annual or aggregate borrowing limits. Available only through your school. Available through banks and lending institutions. They help fill the gap between the financial aid you receive and the money you may really need to pay for school. Some type of repayment normally occurs while the borrower is in school.