Repayment

  • The PARENT is responsible for the repayment of this loan.
  • Estimate your monthly PLUS Loan payments using the Direct Loan Repayment Calculator. (Make sure the Loan Type is set to Direct PLUS.)

How to obtain PLUS Loan Deferment

Repayment for a Federal Direct PLUS Loan begins at the time the PLUS Loan is fully disbursed (for full academic year loans, the loan is fully disbursed on the first day of the Spring Term), and the first payment is due within 60 days after the final disbursement.

You may defer repayment:

  • while the student on whose behalf the parent borrowed the loan is enrolled at least half-time at Lawrence (9 or more units per term), and
  • for an additional six months after the student ceases to be enrolled at least half-time

You may obtain a deferment request form from the Loan Servicer listed on the disclosure statement provided when you receive the loan.

When requesting a deferment, a parent borrower must indicate whether he or she wishes to defer repayment only while the dependent student is enrolled on at least a half-time basis, or both while the student is enrolled and during the 6 month period after the student ceases to be enrolled on at least a half-time basis. If a parent borrower does not request a deferment, the first payment on the loan will be due within 60 days after the loan is fully disbursed.

Interest during PLUS Loan Deferment

Interest will accrue during the deferment period. The parent borrower will be sent quarterly interest statements and will have the option of paying the interest as it accrues during the deferment period. If the parent does not pay the interest as it accrues, the unpaid accrued interest will be capitalized (added to the principal balance) at the end of the deferment period.