• Federal Direct PLUS Loans for Parents

Parent PLUS loan borrowers cannot have adverse credit history (a credit check will be done).  Borrowers must be the student's biological or adoptive parent or the student's stepparent, if the biological or adoptive parent has remarried at the time of application.  The borrower's child must be a dependent student who is enrolled at least half-time at a school that participates in the Direct Loan Program.

• Federal Direct PLUS Loans for Graduate and Professional Students

Graduate students in need of additional financial aid resources may apply for the Federal Direct Graduate PLUS loan.  Graduates may borrow up to the cost of attendance minus all other financial aid.  Federal Graduate PLUS loans are credit based, therefore it is required that the applicant be credit worthy.  Borrowers are first required to have applied for their annual maximum loan eligibility in Subsidized and Unsubsidized Federal Direct Stafford Loans before applying for PLUS loans.

How to apply for a PLUS Loan PLUS Loan applications can be completed online at http://studentloans.gov/ for both Parent PLUS Loans and Graduate PLUS Loans. In addition the student must also complete a FAFSA in order to receive a Parent PLUS or Graduate PLUS loan. A Department of Education PIN is required to complete the FAFSA application and sign the Master Promissory Note (MPN). This is the same PIN used to complete the FAFSA. FGCU will receive the completed application and credit decision electronically within 2-3 business days and award the PLUS Loan to the student's account accordingly.

Interest Rate and Fees

*The rebate is an up-front rebate that requires the borrower, at the time of repayment, to make the first 12 payments on time.  Failure to do so will result in the initial rebated amount to be added back to the balance of the loan.