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Lender:	UW Credit Union
Address:	3500 University Ave. Madison, WI 53705
Lender Code:	818611

Loans » Student Loans » Parent PLUS Loans

Parent PLUS Loans

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UW Credit Union Membership

Membership is required for student loan members. You will be asked to complete our membership process after you apply for your student loan.

The federal government offers the Parental Loan for Undergraduate Students, or PLUS loan, to parents and stepparents of dependent students. Parents can borrow up to the total cost of their dependent's undergraduate education, minus any other aid awarded.

Dependent or Independent Student?

Parents Save

Save 0.25% on the rate with automatic payments¹

Note: Interest rate reduction benefit goes into effect at the time of repayment. Repayment begins 6 months after you graduate, leave school or drop below half-time status. Benefit is for loans first disbursed on/after November 1, 2008.

Parents Benefit

8.50% fixed rate
10-year repayment term
15-day grace period after payment due date
Alternative repayment plans available, including graduated and income-sensitive plans
Interest may be tax deductible. See your tax advisor for information.

Eligibility

School's financial aid office determines eligibility
Student must be enrolled at least half-time
Parent must meet credit criteria
(If you are denied a PLUS loan due to your credit history, your student may be eligible for additional unsubsidized Stafford loan funds.)

Fees

1% insurance fee²
3% origination fee

Disbursement & Repayment

Disbursement & Repayment for Parent PLUS Loans »

¹To be eligible for the interest rate reduction for automatic payments, you must be signed up for automatic payments through Great Lakes Educational Loan Services. If at any time automatic payments are stopped or the loan is not in repayment status, the rate discount will not be applied. UW Credit Union reserves the right to modify or discontinue benefits at its discretion and without notice.

²The insurance fee, also known as the default fee, is charged by the agency that guarantees your loan. Great Lakes Higher Education Guaranty Corporation is the guarantor for all our federal student loans. The fee is used by the guaranty agency in the event of a borrower's default, death, or disability.

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Parent PLUS Loans

Parents Save

Parents Benefit

Eligibility

Fees

Disbursement & Repayment

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