The Federal PLUS Loan Program provides loans to qualified parents of dependent undergraduate students who are enrolled at least half-time. The loan is not based on financial need. Parents can borrow up to the total cost of education minus any student financial aid received. It is a fixed rate loan at 8.5% interest.
PLUS funds are sent directly to NIU. Any overpayments will be refunded to the parent by the Bursar's Office.
To maximize federal financial aid eligibility, NIU students are strongly encouraged to complete the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov.
Repayment of principal and interest amounts begins 60 days after the loan is disbursed. Contact the lender for repayment options.