Interest is charged on the loan, from the date of the first disbursement is made until the loan is paid in full. Repayment of a PLUS Loan begins within sixty days after the final disbursement of the loan. Federal PLUS Loans may be cancelled under certain circumstances. For more information on the Federal Family Educational Loan Program, click here FFEL . In addition to federal student loans some lenders provide additional loan programs to assist students in their endeavor to obtain an education.
Some lenders provide home equity loans to parents and students with the advantage of tax benefits.
While other lenders provide alternative loan programs to supplement the federal loan programs available to independent students. These programs are particularly helpful when a student chooses a high cost school and the available federal student aid programs do not cover the Cost of Attendance. For more information on the New Mexico Educational Assistance Foundation's Alternative Loan Program , click here. We can answer your questions, make referrals to the proper offices, or mail you the forms and information you need.