The following applies to Federal Direct PLUS Loans borrowed during the 2018-2019 year:
- Loans with a first disbursement date before October 1, 2018 will incur a loan origination fee of 4.264% deducted by the Department of Education. Loans with a first disbursement on or after October 1, 2018 and before October 1, 2019 will incur a loan origination fee of 4.248%.
- The interest rate for a PLUS Loan first disbursed on or after July 1, 2018 and before July 1, 2019 is 7.60% fixed.
- Standard repayment term is 10 years. In some cases, a borrower may be eligible for extended or graduated repayment terms.
- If a PLUS Loan creates a credit balance (overpayment) on the Student Account, refund will be issued payable to the parent borrower.