How to Apply
Parent PLUS Loans
Parent PLUS Loans (Parent Loans for Undergraduate Students) are Federal Loans that can cover up to the total cost of your dependent child's undergraduate education minus the amount of other aid received.
Example:
| Total Cost of Attendance | $20,000 |
|---|---|
| Financial Aid Received | - $3,000 |
| PLUS Loan Eligibility | = $17,000 |
Any parent of an undergraduate student can apply regardless of financial need. Parent PLUS Loans are subject to credit approval.
- Low interest rate, currently fixed at 8.50%* APR (July 1, 2009)
- Covers up to 100% of education cost
- Deferment available upon request if parent or student is enrolled at least half-time or for six months after dropping below half-time enrollment
- Flexible repayment terms (no prepayment penalties)
- Interest paid may qualify for a tax deduction**
Get pre-approved before you apply to make the application process go more smoothly. If are pre-approved, apply now.
| Get Pre-Approved > | Apply Now > |
Important Disclaimers:
- Interest rates are effective 7/1/09. The rates and other information set forth above have been obtained from sources deemed reliable, but do not constitute representations of Commerce Bank, nor shall this be considered an offer by Commerce Bank to fund any loan at rates other than those established by the United States Department of Education.
- Consult a tax advisor for details. IRS Publication 970, Tax Benefits for Higher Education, explains these credits and other tax benefits.
- To send an email that contains confidential information, please visit the Secure Message Center where there are additional instructions about whether to use Secure Email or Online Banking messaging.
Subject to credit approval.
