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» PLUS Loans for Graduate and Professional Degree Students
PLUS Loans for Graduate and Professional Students
 This is a recent program, in which graduate and professional degree students are now eligible for PLUS Loan Programs. The terms and conditions applicable are the same used in Parent PLUS Loans. The interest is 8.5% for the FFEL program and 7.9% for Direct Loan program. Applicants for these loans must not have an adverse credit history, and then they have to apply to the FAFSA and to their annual loan maximum eligibility under the Federal Subsidized and Unsubsidized Stafford Loan Program. The rate of interest will vary according to the date. For 2007-2008, the interest in both the Direct and FFEL programs is 8.02 percent. As well, the interest will be charged from the first date of pay until the full payment. Also, besides of the interest, your parents will have to pay 4% of the loan, deducted in a proportional way each time a disbursement is made.
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