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Parent PLUS Repayment, Deferment and Forbearance

Repayment

Your repayment period begins the date the loan is fully disbursed. The first payment is due within 60 days.

Your federal loan servicer will provide information about repayment and confirm the date repayment begins. Repayments are made to the federal loan servicer. Borrowers generally have from 10 to 25 years to repay the Parent PLUS Loan.

To calculate estimated loan payments, use the Direct Loan Repayment Calculator. Learn more about repaying your loans

Deferment

Deferment lets parents delay loan repayment until after their student is no longer enrolled at least half-time (less than 6 credits). Parents must request separate deferments for each loan period through their federal loan servicer.

Upon disbursement, borrowers will receive repayment and deferment information from their loan servicer and may need to provide a copy of your student’s academic verification along with the in-school deferment form. Learn more about deferment options. 

If your loan is deferred, interest will accrue on the loan during the deferment. You may choose to pay the accrued interest or allow the interest to capitalize when the deferment period ends. Your loan servicer will notify you when your first payment is due. 

Forbearance

If you are unable to make your scheduled loan payments, contact your loan servicer immediately. Your servicer can help you understand your options for keeping your loan in good standing. For example, you may wish to change your repayment plan or request a deferment or forbearance that allows you to temporarily stop or lower the payments on your loan. Learn more about forbearance options

In certain situations, you can have your federal student loan forgiven, canceled, or discharged. More information about loan cancellation or forgiveness.