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 parents of dependent students.  Parents may borrow up to the student’s cost of education, less any other financial aid received by the student during the loan period.

The Federal PLUS Loan is disbursed through the William D. Ford Federal Direct Loan Program.  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 for the Federal PLUS Loan is 7.9%. 

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 directly.  The repayment period can be extended up to 10 years with minimum monthly payments to be arranged with the 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.  The Student Loan Accounting Office within the Bursar's Office handles all PLUS loan disbursements.  Related questions should be directed to that office.  Parents/students are advised to exhaust their eligibility for other federal student aid programs before considering the PLUS loan.

For more information about the Federal PLUS Loan program, including 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 who may borrow up to the cost of education less any other financial assistance received during the loan period.

The Federal PLUS Loan is disbursed through the William D. Ford Federal Direct Loan Program.

The interest rate for the Graduate PLUS Loan is 7.9%. 

Borrowers must first complete the FAFSA and apply for the Federal Direct Student Loan program before applying for the Graduate PLUS Loan.  Students are advised to exhaust their eligibility for other federal student aid opportunities 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.  The Student Loan Accounting Office within the Bursar's Office handles all PLUS loan disbursements.  Related questions should be directed to that office.

For more information about the Graduate Federal PLUS Loan program, including how to apply, click here.