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		<li><b><font color="#990000">Federal Direct PLUS Loan (Parent Loan for Undergraduate Students)</font></b></li>
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			<li><b>Phone Number</b>: 1-800-848-0979</li>
			<!--li><b>Web Site</b>: <a class="black" href="http://www.ed.gov/offices/OSFAP/DirectLoan/students.html">http://www.ed.gov/offices/OSFAP/DirectLoan/students.html</a></li-->
			<li><b>Eligibility</b>: Parents 


 only, no other relatives or guardians; US Citizen / Permanent Residents; must pass credit check</li>
			<li><b>Amount</b>: Up to the full cost of attendance minus other aid</li>
			<li><b>Interest Rate</b>: 52 week Treasury Bill plus a percentage; capped at 9%. Currently 7.9%. 


 The interest rate is adjusted each year on July 1 and is calculated according to a federal formula. Your parents will be informed of later changes in the interest rate. Interest is charged on the loan from the day the first disbursement is made until the day the loan is paid in full.</li>
			<li><b>Fees</b>: 


 All PLUS Loans are subject to fees of 4% that are withheld from the amount received. There is an upfront 1.5% interest rebate (fees less rebate is 2.5%--the total amount withheld from the loan.) Fees are deducted from the loan proceeds at the time funds are disbursed.</li>
			<li><b>Repayment</b>: Begins 60 days after disbursement; up to 10 years to repay.


 Beginning July 1st, 2008, parent applicants may choose to defer payments on a PLUS loan until 6 months after the date the student ceases to be enrolled at least half-time.&nbsp; Accruing interest could be paid by the parent borrower monthly or quarterly and be capitalized quarterly. </li>
			<li><b>Application</b>: Contact the Student Service Center at sscenter@stevens.edu for a paper application or call 201-216-5555.</li>
			
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