{"id":293,"date":"2017-11-20T14:38:06","date_gmt":"2017-11-20T14:38:06","guid":{"rendered":"https:\/\/www.macalester.edu\/financial-aid\/plus\/"},"modified":"2026-05-15T14:38:07","modified_gmt":"2026-05-15T14:38:07","slug":"plus","status":"publish","type":"page","link":"https:\/\/www.macalester.edu\/financial-aid\/loans\/plus\/","title":{"rendered":"Federal Direct PLUS Loan"},"content":{"rendered":"<p><strong>Through the Federal Direct PLUS Loan program, parents may borrow up to $20,000 per year per student, with a lifetime aggregate limit of $65,000 per student.<\/strong><\/p>\n\n\n\n<p><em>The information below should be considered a summary of the Federal PLUS Loan program. Please see the<a href=\"https:\/\/studentaid.gov\/understand-aid\/types\/loans\/plus\/parent\"> Federal Student Aid site<\/a> for details.<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Parents must be creditworthy, but there are no income requirements placed on eligibility.<\/li>\n\n\n\n<li>Completion of the <a href=\"https:\/\/studentaid.gov\/h\/apply-for-aid\/fafsa\">Free Application for Federal Student Aid<\/a> (FAFSA) is required in order to apply for the PLUS Loan.<\/li>\n\n\n\n<li>Loans are payable 30 days after the final disbursement of the loan and payable over 10 years.<\/li>\n\n\n\n<li>Deferment of repayment is available upon request as long as the student is enrolled at least half-time.<\/li>\n\n\n\n<li>Federal PLUS Loan fee: 4.228% (borrowers receive $957.72 to use for educational expenses for every $1000 borrowed)<\/li>\n\n\n\n<li>The 2026-2027 Direct PLUS loan interest rate is fixed at 9.07%.<\/li>\n<\/ul>\n\n\n\n<p>To apply, complete the Federal Direct PLUS Loan Application available at <strong><em><a href=\"https:\/\/studentaid.gov\/app\/launchPLUS.action\">studentaid.gov<\/a><\/em><\/strong>.<\/p>\n\n\n\n<p>Your Federal PLUS Loan proceeds will be delivered electronically to the student&#8217;s Macalester account. Generally, loan proceeds arrive at Macalester a few days before the beginning of each semester.<\/p>","protected":false},"excerpt":{"rendered":"<p>Through the Federal Direct PLUS Loan program, parents may borrow up to $20,000 per year per student, with a lifetime aggregate limit of $65,000 per student. The information below should be considered a summary of the Federal PLUS Loan program. Please see the Federal Student Aid site for details. To apply, complete the Federal Direct [&hellip;]<\/p>","protected":false},"author":1,"featured_media":0,"parent":252,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-293","page","type-page","status-publish","hentry"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO Pro 5.0.4 - aioseo.com -->\n\t<meta name=\"description\" content=\"Through the Federal Direct PLUS Loan program, parents may borrow up to $20,000 per year per student, with a lifetime aggregate limit of $65,000 per student. The information below should be considered a summary of the Federal PLUS Loan program. Please see the Federal Student Aid site for details. 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