Main Content:
The
Federal Parent Loan for Undergraduate Students (PLUS) program is available
to parents of dependent, undergraduate students. The PLUS loan borrower
is the parent. The maximum PLUS loan available to parent's
of RCTC students for the 2008-2009 academic year is dependent upon the student's
cost of attendance and other aid resources.
The Interest Rate on the PLUS Loan Program is variable and changes each
July 1st. In addition to interest, the borrower
must pay loan origination and guarantee fees as charged by the lender.
The PLUS Loan Program does not have a grace period. The repayment
for a Federal PLUS loan usually begins 60 days after the loan is fully disbursed.
Several deferment options are available for the PLUS loan.
See the Loan Comparison Chart
for more information about the PLUS Loan Program.
How do I apply for a PLUS loan?
Your student must have a Free Application for Federal Student Aid (FAFSA) on file with the RCTC Financial Aid Office.
Parents then apply for PLUS loans at RCTC via the web. Click
here to go to the web application.
For more information about PLUS loans, please contact James
Scott at the RCTC Financial Aid Office for. James can be reached by
email or by phone at (507) 285-7267.