You must begin repaying this loan 6 months after you cease to be enrolled at least half- time. Not based on financial need. The interest rate is unknown at this time as Congress is revising the method used to calculate the rate. The federal government does not pay the interest while the borrower is in school, all interest is the borrower's responsibility. You will be charged interest from the time the loan is disbursed until it is paid in full.
Students can either pay the interest while they are in school or let it accrue.
You must begin repaying this loan 6 months after you cease to be enrolled at least half-time. PLUS Loans enable parents with good credit histories to borrow money to pay the education expenses of each child who is a dependent undergraduate student enrolled at least half time. If awarded a PLUS Loan, you must pass a credit check done by the lender to qualify for this loan. The interest rate is variable, but will never exceed 9 percent. The interest rate is set annually on July 1.