Federal PLUS loans 		 
 
Graduate/professional students and/or parents of dependent, undergraduate students may utilize a Federal PLUS Loan. The Federal PLUS Loan (Parent PLUS and Graduate/Professional PLUS) offers a fixed interest rate for the life of the loan, flexible repayment terms, and the option to borrow up to the full cost of education minus any other form of awarded aid.
Click here to
begin the Federal PLUS
pre-approval process
 
Federal PLUS loan benefits with the Waived Payment PLUS Loan Program
 
Skip your last five payments after making all previous payments on time 2
Skip two additional payments when you sign for automatic monthly payments from your checking or savings account
 

Special repayment option for Federal PLUS borrowers - Parent PLUS and Graduate/Professional
PLUS borrowers can request that their loan repayment be postponed while they are enrolled in school
at least half-time.3
 
To qualify for the Waived Payment PLUS Loan, a borrower must :
Sign up for e-correspondence within 90 days of first disbursement and manage your account online
Maintain a valid email address and receive e-newsletters from Nelnet regarding financial literacy for the life of the loan
Make on-time payments (no more than three days past the scheduled due date) throughout the life of the loan1
 
ASAP/Union Bank & Trust makes borrowing simple through our FREE
tools and resources:
Low-cost loans with great borrower benefits that save you money up-front
Resources to assist you with filing the FAFSA, budgeting, and more
Access to many time and money-saving resources such as scholarship searches and giveaways
Helpful customer service every step of the way
Confidence in working with a leading-edge company
 
To be eligible for a Federal PLUS loan, borrowers must:
Be either a U.S. citizen, U.S. national, or eligible non-citizen
Not be in default on any education loan or owe a refund on any education grant.
Pass a credit check
Be enrolled (if parent borrower, student must be enrolled) at least half-time at an eligible institution.
 


Disbursement of Federal PLUS Loan Proceeds
Federal PLUS loans are typically disbursed to the school in multiple disbursements according to the
schedule established by the school.
 

 
 

1 If pre-payment exceeds three times the value of a regularly scheduled payment, the last five payments will not be waived.
2 Must also meet borrower qualifications.
3 Interest on the loan will continue to accrue during forbearance and will be added to the loan balance.

ASAP/Union Bank & Trust reserves the right to modify or terminate borrower benefit programs at its discretion and
without prior notice. Borrower benefit programs vary by state, lender, and servicer. All benefit programs are subject
to loans remaining in good standing.

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