Federal PLUS Loans

Overview

The federal PLUS program is a popular financing option for graduate students, and parents of undergraduate students.

• Borrow any loan amount up to the total student budget determined by Stanford, less any other resources.
• 8.5% fixed interest rate  
• Required fees totaling up to 4.0% are deducted from each disbursement of the loan.
• A credit check is conducted when you begin the loan application process. (Undergraduates whose parents do not qualify for a PLUS loan can borrow additional federal Stafford loan funds.)

Loan Repayment

• For graduate students repayment begins immediately after you graduate or drop below half-time enrollment and lasts ten years.
• For parents of undergraduate students repayment begins within 60 days after your loan is fully disbursed and lasts ten years. Parent borrowers may contact their lenders to request deferment of monthly payments while the student is in school.

Selecting Your Lender

Federal PLUS loans are funded by private lenders such as banks, credit unions and not-for-profit education lenders. The federal government sets the interest rate, fee limits, and minimum deferment options. Lenders may choose to offer benefits beyond the minimum requirements.

You are encouraged to review your options before choosing a lender. The Online Lender Comparison Tool is provided by Simple Tuition for Stanford borrowers to compare benefits offered by our preferred lenders. We use a careful selection process for our preferred lenders based on the best benefits and services available for our borrowers. You are not obligated to use a preferred lender and may choose any lender that participates in the loan program.

•  If you have previously borrowed a PLUS loan at Stanford, your prior lender will be automatically selected for your new loan.