Repayment begins 60 days after the loan is fully disbursed, and extends up to 10 years. However due to a recent bill passed by congress Parents can choose to defer payments on a Plus loan until 6 months after the date the student ceases to be enrolled at least half time. Deferment for PLUS loans is NOT automatic! The Direct PLUS loan borrower must contact Borrower Services at (800)-848-0979 (when prompted, you will need to enter your social security number). Accruing interest can either be paid by the parent borrower monthly or quarterly, or be capitalized quarterly. To obtain an estimate of your monthly payment amount, go to Repayment/Amortization Calculator.
