Federal Direct PLUS Loan Program for Parents

The Direct PLUS Loan program for parents enables parents to borrow funds to pay the education expense of each child who is a dependent undergraduate student enrolled at least half time.

Features include:

  • 6.84% fixed interest rate for all PLUS Loans borrowed in 2015-2016
  • A 4.292% origination fee (subject to change by the U.S. Department of Education)
  • Quick credit pre-approval
  • Payments begin approximately 60 days after the second disbursement
  • A 0.25% interest rate reduction for many when you pay via auto-debit during repayment
  • Interest only payments available
  • Tax deductible interest for many
  • Can request postponement of payments until after your student graduates

Questions? Contact the WLC Financial Aid Office
phone: (414) 443-8856
fax: (414) 443-8540