Loans
Direct Parent PLUS Loan
(Parent Loan for Undergraduate Students)
Print Application for 2009–2010 School Year (PDF Format)
The Direct Parent PLUS Loan, is a low-interest loan for parents designed to help them meet the cost of their student's education. The lender is the U.S. Department of Education rather than a bank or credit union. Any parent of a dependent, undergraduate student may apply for this loan. Approval of the loan will be based on the results of a credit check. If the Parent PLUS loan application is denied, other options may be available by contacting the Office of Scholarships and Financial Aid loan department at (231) 591-2110.
For more information: Direct Loan Basics for Parents
Direct PLUS Loan
- Borrower is the parent of the undergraduate student
- Interest rate of 7.9% fixed
- Origination fee of 4% less an up–front interest rebate of 1.5%
- Funds are sent directly to the school
- Repayment begins 60 days after the 2nd disbursement unless you request deferment. Call (800) 848–0979 to request deferment
- Loan limits are the cost of education less other aid
- Enrollment status of the student must be at least half–time (6 credit hours)