University of South Carolina

Financial Aid & Scholarships


Federal Direct Plus Loan

Federal Parent PLUS Loan

Federal PLUS Loans are non-need, credit based loans made to the parent(s) of dependent undergraduate students and are disbursed through the William D. Ford Federal Direct Loan Program. Parents may borrow up to the student's cost of education, less any other financial aid received by the student.

The student for whom the parent(s) is borrowing is required to complete the FAFSA before a parent PLUS loan can be certified.

The interest rate on a Parent PLUS Loan disbursed between July 1, 2014 and June 30, 2015 is 7.21%. For specific information about the interest rate on your loans, please contact your servicer.

For parent PLUS loans, repayment begins within 60 days after the loan is fully disbursed. However, parents may request a deferment of repayment until six months after the dependent student ceases to be enrolled on at least a half-time basis by contacting their servicer.

PLUS loans will be disbursed in at least two installments, generally to coincide with the beginning of the enrollment periods covered by the loan. Equal installments of the loan will be disbursed at the start of each semester if it covers multiple semesters. A loan that covers only one semester or term, however, will be disbursed in full at the beginning of that semester or term.

For more information about how to apply, click here.

Federal Graduate PLUS Loan

Federal Graduate PLUS Loans are non-need, credit based loans made to graduate and professional students and are disbursed through the William D. Ford Direct Loan Program. Students may borrow up to the cost of education less any other financial assistance received during the loan period.

The interest rate on a Parent PLUS Loan disbursed between July 1, 2014 and June 30, 2015 is 7.21%. For specific information about the interest rate on your loans, please contact your servicer.

Borrowers must first complete the FAFSA and apply for the Federal Direct Unsubsidized Loan program before the Graduate PLUS Loan can be processed. Students are advised to exhaust their eligibility for other federal student aid opportunities, including the Unsubsidized Loan, before considering the PLUS loan.

First-time borrowers must sign a Master Promissory Note and complete Entrance Loan Counseling before any Graduate PLUS Loan funds will be disbursed.

Graduate PLUS Loans will be disbursed in at least two installments, generally to coincide with the beginning of the enrollment period covered by the loan. Equal installments of this loan will be disbursed at the start of each semester if it covers multiple semesters. A loan that covers only one semester or term, however, will be disbursed in full at the beginning of the semester or term.

For more information about how to apply, click here.