When a parent receives your Direct PLUS Loan, he/she will be contacted by the loan's servicer. The loan servicer will provide regular updates on the status of the Direct PLUS Loan and will provide information on how and when to repay the loan.
Payments are generally required on this loan while the student is in school and will begin after the loan is fully disbursed for the year; however, payments can be deferred until six months after the student graduates, leaves school, or is enrolled for less than six credits, only after the payment deferment has been approved by the loan servicer. If payments are deferred during the in-school period and/or the six-month post-enrollment period, parents will receive quarterly interest statements and have the option to pay the accrued interest. Unpaid accrued interest will be capitalized (added to the principal loan balance) at either the end of the in-school deferment or, if taken, the end of the six-month post-enrollment deferment, increasing the overall loan costs.
Read more about loan servicers
Estimate Monthly PLUS Loan Payments