The federally sponsored PLUS loan is a low interest student
loan for parents of undergraduate, dependent students. With a Parent PLUS loan,
you can fund the entire cost of your child's education (minus other financial
aid) and defer payments until after they graduate.
PLUS loans are a great way to help your son or daughter finance the education
they need.
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Consider the following consumer-friendly features of a PLUS loan:
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PLUS loans have no income or collateral requirements.
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Flexible repayment options offer you a
wide variety of choices.
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Interest may be tax-deductible.1
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There is no prepayment penalty.
Repayment options for Parent PLUS Loans
Parents with a PLUS loan first disbursed on or after July 1, 2008, have two
repayment options. Payments may begin either:
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Within 60 days of the loan being fully disbursed.
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Six months after the dependent student graduates, leaves school or ceases to be
enrolled at least half time.
Interest will be charged beginning on the date of the first loan disbursement.
Interest can be paid as it accrues or it will be added to the loan's principal
balance upon repayment.
Obtaining your PLUS loan through Chase is the right choice:
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We offer savings — 0.25% interest rate reduction for having monthly
payments automatically deducted from your bank account (ACH) by Chase.*
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As one of the nation's leading financial institutions, Chase is a company you
can trust.
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We offer a quick, easy application process - either online or by phone.
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Our team includes highly-trained service representatives who can advise and
assist throughout the process.
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We provide exceptional security for your personal information.
You can
apply online for a PLUS loan with Chase or review our
Frequently Asked Questions to learn more.
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