PLUS Loans

PLUS Loans are loans that parents borrow to help pay for their dependent student’s educational expenses. The dependent student must meet all federal aid eligibility requirements in order for the parent to borrow a PLUS Loan.

See how we determine eligibility.

The annual borrowing limit is the student’s estimated cost of attendance minus other financial assistance. Fees of up to 4% are deducted from the loan amount. The PLUS Loan interest rate is a fixed interest rate of 6.84%.

The parent borrower may begin repayment 60 days after the loan is fully disbursed or, for loans disbursed after July 1, 2008, the parent-borrower has the option of postponing repayment until 6 months after the dependent student on whose behalf the loan is made graduates or drops below half-time enrollment.

Apply for a PLUS Loan

To apply for a PLUS Loan, please follow the steps below:

1. Complete the pre-approval process through the Department of Education here.
2. Complete the Dalton State PLUS Loan Certification request. This form needs to be completed so that our office knows how to distribute the loan funds.

PLUS Loan borrowers generally need to go through a credit check. If the parent is denied the PLUS Loan, the dependent student may borrow up to $6,000 in Unsubsidized Stafford Loan funds at the freshman and sophomore level and up to $7,000 at the junior or senior level.