Student PLUS Loan

The Student PLUS loan program is a low cost alternative to a traditional private student loan. Graduate Leverage created this program in response to the current economic conditions that have made private student loans not only more difficult to obtain but also very expensive with high variable interest rates and fees. Student PLUS Loans help families better utilize the lower cost Federal Parent PLUS loan. Similar to a private loan, this program can be used to help meet educational costs not covered by scholarships, grants, work study or other financial aid.

Benefits of the Student PLUS Program

• Low fixed interest rate (7.9%) using the Federal Direct Parent PLUS loan*
• Neither parent's nor student's credit score is used to determine interest rate
• Student makes payments following graduation

The Student Plus Program requires a parent's participation as the borrower of the Federal Direct PLUS loan. So, if you were planning to sign up for a private loan and use your parent as a cosigner or you are a parent who prefers to have your child make the payments, you should consider the Student Plus Program as a lower cost option.

Student PLUS Program Details

• Eligibility

  • Student must attend a Direct Lending School
  • Since the underlying loan is the Federal Direct Parent PLUS loan, parent's credit must be in good standing
  • Student must be younger than the age of 24

• Repayment

  • Student makes payments following graduation
  • Payments may be deferred until 6 months after student graduates
  • Graduate Leverage facilitates the payment process to help protect against risks of delinquency

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* The Graduate Leverage Student Plus Program is not affiliated with the U.S. Department of Education or the Federal Parent PLUS Loan Program.

** The content and information on this page was provided by Graduate Leverage. StudentLoans.com is a portal designed to help you locate financing options and has made no independent investigation into the representations and warranties of the products offered through the site.