| Who Can Apply? |
Parents of dependent undergraduate students. |
| Eligibility |
Borrower must pass a credit review.
Student must be enrolled at least half-time in a degree or certificate
program at an eligible institution.
If parent is denied a PLUS Loan, additional unsubsidized Stafford funds
may be available. |
| Interest Rate |
8.5% fixed. |
| Fees |
Origination Fee:
- 3% to be paid by the borrower.
Federal Default Fee: 1%
Fees are deducted from the loan proceeds prior to disbursement.
Origination and Default Fees Amounts:
Amount Borrowed |
Prior to July 1, 2008 – 4% |
Beginning July 1, 2008 – 4% |
3,000 |
$120 |
$120 |
5,000 |
$200 |
$200 |
8,000 |
$320 |
$320 |
10,000 |
$400 |
$400 |
15,000 |
$600 |
$600 |
20,000 |
$800 |
$800 |
|
| Loan Limits |
Cost of education minus other financial aid received. No annual
or aggregate limit. |
| Interest |
All accrued interest is the responsibility of the borrower. Accrued interest will capitalize upon entry into repayment or at the end of forbearance and deferment periods. Accrued interest can be paid at any time. |
| Repayment Begins |
While repayment begins the day following the final disbursement of the
loan, loan repayment can be delayed up to 48 months. |
| Repayment Terms |
Standard term up to 10 years. $50 minimum payment per month. |
| Deferment Options |
Available under certain circumstances. |
| NHHELCO Borrower Benefits* |
0.25% interest rate reduction for auto debit.
|
The NHHEAF Network Organizations reserve the right to modify or cancel its programs at any time.
