Parent Loan for Undergraduate Students (PLUS)

The Federal PLUS Loan is available to the parents or legal guardians of dependent undergraduate students.

• Parent borrower must be credit-worthy
• Student must be enrolled at least half-time
• Borrow up to the cost of education less aid received
• Up to 10 year repayment term
• Interest Rate is variable, adjusted annually, and based on the 91-day T-Bill1¹, plus 3.1%, not to exceed 9.0%
• Principal and interest payments begin 60 days after disbursement.
• .25% interest rate reduction for participation in electronic loan payment withdrawal program.
• Even More Reasons to choose a PLUS Loan from Fleet Education Financing

Annual & Aggregate Borrowing Limits:

• No predefined, specific PLUS Loan annual or aggregate borrowing limits.
• Parents may not borrow more than the student's total Cost of Attendance less the amount of other aid received by the student in any given award year.

Fees:

• Up to 3% Origination Fee
• Up to 1% Guarantee Fee (Note: 0% Guarantee Fee through NYHESC)

• Fleet Bank also offers Graduated Repayment Options and Deferment/Forbearance Options.

• Click here for even More Reasons to choose a PLUS Loan from Fleet Education Financing

• Please contact 1-800-2-FLEET-5 for more information.

• Complete Fleet's PLUS Pre-Approval Form

• Request an application
• Call us at 1-800-2-FLEET-5 (1-800-235-3385)

¹The interest rate is based on the bond-equivalent rate for 91-day Treasury bills established at the final auction held prior to June 1, and is reset each July 1. Rate effective July 1, 2001 to June 30, 2002 is 6.79%.

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