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Federal Direct PLUS Loans

PLUS loans are another option to help make college affordable. Here is some key information.

About Federal Direct PLUS loans

You must file a FAFSA to be considered for the Parent PLUS Loan. Parents of undergraduates must meet the following requirements to be eligible:

  • Creditworthy parents of dependent students.
  • Custodial and non-custodial parents can both borrow under the PLUS loan program.
  • Borrower must be a U.S. citizen, U.S. national or permanent resident of the United States.
  • Borrower cannot be in default on a federal education loan or owe a repayment of Federal Title IV aid.
  • Financial need is not a requirement to obtain a PLUS Loan.

PLUS Loan Application Instructions:
To apply for the Federal Direct Parent PLUS Loan, go to www.studentloans.gov. 

GRAD PLUS Loan:
To apply for a GRAD PLUS loan go to www.studentloans.gov.

Award Amounts
Plus Loan limits are determined by the estimated cost of attendance less any other aid. The amount of eligibility is listed on your Award Notification Letter. 

Federal Direct Rates and Fees
For PLUS Loans disbursed between July 1, 2017, and June 30, 2018, the interest rate is fixed at 7.00%. A fee of 4.272% before 10/01/17 and 4.276% on or after 10/01/17 will be deducted from the disbursement.  The 2018 - 2019 interest rate will be available on July 1, 2018. 

Repayment Information
Loan Repayment of Parent PLUS Loans begins within 60 days of the last disbursement of that academic year. Typically, a loan will begin repayment at the end of the spring term.

Melinda Middleton

Melinda Middleton

Melinda Middleton oversees Rose-Hulman’s Office of Financial Aid as the department’s director. She and the rest of the Financial Aid staff can help you make sense of the loans, grants and scholarships available. They take pride in helping our students find ways to make a Rose-Hulman education an affordable investment in their future.

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Contact Us

Office of Financial Aid
Hadley Hall 104
Rose-Hulman Institute of Technology
5500 Wabash Avenue
Terre Haute, Indiana 47803
Phone: 812-877-8672
Fax: 812-877-8838
finaid@rose-hulman.edu