PLUS LOANS FOR PARENTS

Tuition, room and board, books ... it all adds up to a sizable expenditure for even the most prepared parents. It's no wonder ESF's Federal PLUS Loan has become a popular financing option for the parents of dependent undergraduate college students enrolled on at least a half-time basis.

From great borrower benefits like a 2% interest rate reduction to the ease and convenience of our online PLUS Loan Pre-approval, ESF's Federal PLUS Loan is smart money.

Planters Bank & Trust Co. has partnered with Education Services Foundation to provide convenient hometown access to low cost federal PLUS loans for parents.

Federal PLUS Loans enable parents with good credit histories to borrow money to help pay for the educational expenses of undergraduate students enrolled on at least a half-time basis. PLUS Loans are not based on financial need

For loans disbursed on or after July 1, 2006, the interest rate is fixed at 8.5%. 

There are no loan limits for the Federal PLUS Loan. Parent borrowers may be eligible to borrow an amount equal to the cost of attendance less any other financial aid the dependent student receives. Interest begins to accrue from the first disbursement date, and repayment begins within 60 days after the final loan disbursement.

The parent borrower has up to 10 years to repay the loan. In some cases, parent borrowers may be eligible for a deferment of payment.

EXTRA CREDIT: Money-saving Borrower Benefits

Planters Bank & Trust Co., in partnership with Education Services Foundation, offers money-saving borrower benefits for the PLUS Loan.  If you are a Mississippi resident or a non-resident attending a college or university in Mississippi, click here to learn about your borrower benefits.  If you are a non-Mississippi resident attending a school not located in Mississippi, click here for your borrower benefits.

Ready to apply for your PLUS loan?

PLUS Loan Pre-approval
Click on the icon to apply on-line for convenient pre-approval for your Federal PLUS Loan. You will be taken to the Privacy Agreement for our partner, Education Services Foundation. If you accept the terms of the privacy agreement, you will be then be taken to a secure site to complete the request form. 

If you are eligible for and are approved for a PLUS Loan, check with your college to see if you need to submit a PLUS Loan Master Promissory Note. If so, you may you may access our PLUS Loan MPN in two ways:

	click here to complete the MPN online - you may then either sign and submit it electronically or print it out, sign and mail. When asked to choose a lender, be sure to select Education Services Foundation.
	click here for a blank MPN which you may print out, complete, sign and mail to us at:

Education Services Foundation
Student Loan Division
P. O. Drawer 55909
Jackson MS 39296-5909

Need assistance? Call us toll free at 800-986-4322 or send an email.

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