Federal PLUS Loan for Graduates

Features
- Payments are deferred while you are in school at least half-time.
- Loans are serviced in Maine.
- Manage your account 24/7 at www.inowinfo.com.
- Flexible repayment terms available.
- No prepayment penalty.
Eligibility
- Must be a graduate student enrolled at least half-time.
- Credit check is required.
- Student must be a Maine resident, or attend college in Maine.
- Student must be a U.S. citizen or national, a U.S. permanent resident, or eligible non-citizen.
- Student must submit a FAFSA.
Interest
- Interest rate is fixed at 8.5% for PLUS loans first disbursed beginning July 1, 2008.
- You are responsible for all of the interest that accrues. Unpaid interest is capitalized (added to the loan principal) and therefore you will pay interest on a higher loan amount.
Fees
- 3% origination fee.
- 1% default fee.
Loan Limit
- You may borrow up to the full cost of your education, minus other aid received.
Repayment
- Repayment begins within 60 days after the final disbursement of the loan.
- Payments are deferred while you are in school at least half-time.