A Direct PLUS loan enters repayment on the date the final disbursement of the loan is made. If during the Direct Plus Loan application
process you elected to defer repayment while your student is in school, the loan will be placed on a Parent PLUS Deferment that will end
on the date the student ceases to be enrolled at least half-time. Also, if you elected to defer repayment until six months after your
student is no longer enrolled at least half-time, a Post-Enrollment Deferment will begin on the date the student ceases to be enrolled
at least half-time and will end six months after that date. During the deferment period, you will not be required to make any payments.
If you did not elect to defer payment when applying for your Direct Plus loans, you may request a Parent PLUS Deferment while your child
is enrolled at least half-time and you will not need to make payments. You may also request a Post-Enrollment Deferment for an additional
six months after your child graduates, leaves school, or drops below half-time enrollment. To request these deferments, complete and
return the Parent Plus Deferment form. Each school may define half-time differently. If
you are unsure and need to determine the student’s enrollment status, please contact the school.
Qualified Loans for Deferment - To qualify for the Parent Plus Deferment you must be a parent borrower of a Direct or
Federal PLUS Loan that was first disbursed on or after July 1, 2008 and the student on whose behalf you borrowed the PLUS Loan must be
enrolled at least half-time.
Payments and Paying Down Interest - While you don't have to make payments on your loans after each loan is disbursed
and during period of loan deferment, you always have the option to make payments towards your student loans which includes paying
towards interest for any unsubsidized loans – this can save you money.
Interest - During any period when you are not required to make payments, interest will accrue on your loan. You may
choose to pay the accrued interest or allow the interest to be capitalized (added to your loan principal balance) when you have to
start making payments.
Repayment - If you do not request a deferment or your deferment has ended, you are expected to begin making payments
after the loan is fully disbursed (paid out). Approximately 30-60 days prior to your first payment due, we will calculate your repayment
terms and provide you with a schedule showing the repayment plan, when payments are due and the monthly payment amount. If this payment
amount is not affordable, other payment options may be available. To estimate your monthly payment amount and explore payment plans,
log into studentaid.gov and use the Loan Simulator.
Billing Statements - We will send these approximately 21-25 days prior to your due date. If your due date does not
work you can request to change your due date to be within the 1st-28th of the month.
Repayment Plan - If the payment amount under your repayment plan does not fit your budget, you may be eligible for a
different repayment plan. Visit StudentAid.gov for more information.
Ways to Pay - You may pay by using any of the following methods:
Manage Your Loans 24/7 - Visit your App Store to download the MOHELA Android or iOS Apps, where you can view account
details and make payments to specific loans. Call 888.866.4352 to get account information and make payments using the automated
system. Log In to mohela.com or StudentAid.gov.