A Parent PLUS loan can help you finance your child's education:
- Parents can borrow up to the total cost of a college education, minus financial aid already received.
- The interest rate is fixed and loans are available from the U.S. Department of Education's Direct Loan Program.
- You start paying back the loan 60 days after the money has been disbursed to the college. Deferments may be available.*
- Financial need isn't an issue in getting a PLUS loan, but credit guidelines will apply in determining eligibility.
* Interest will accrue during deferment and be capitalized (added to the loan balance) at the end of the deferment period.
Certain restrictions and limitations may apply. SunTrust Bank reserves the right to change or discontinue these programs without notice. All loan programs may not be available in certain jurisdictions.