Federal Direct Parent PLUS Loans

For: All parents of dependent undergraduates regardless of income. Qualification is based solely on good credit. There are no debt-to-income ratio guidelines or employment verification requirements.

Loan Amounts: Parents may borrow up to the total education cost for the year, minus any other financial aid that the student is receiving. The total education cost can include tuition and fees, room and board, books and supplies, transportation, and living allowance.

Interest Rate: The interest rate for Direct PLUS Loans is 7.9%. A federal loan fee of up to 4% may be deducted from the loan proceeds.

Disbursement: Usually done in three equal amounts at the beginning of each semester/quarter and sent directly to the university. A federal origination fee may be deducted from the proceeds.

Repayment: PLUS loan repayment normally begins within 60 calendar days after the loan has been fully disbursed. In certain circumstances, parents may elect to repay the loan on a graduated repayment schedule, making interest-only payments (minimum is based on term of the loan, but at least $50 per month) for a portion of the repayment term.

Do you have questions about financial aid? If you haven’t yet applied to Walden, please contact an enrollment advisor at 1-866-492-5336 in the United States. If you are a current student, please contact a financial aid advisor at finaid@waldenu.edu or call 1-800-WALDENU (1-800-925-3368).