Effective July 1, 2013 – June 30, 2014, the interest rate is fixed at 6.41% and is charged on the loan from the time the loan funds are disbursed until it is paid in full.

In addition to interest, the Federal PLUS Loan has a 4.204% origination fee.  This fee reduces the amount that disburses to the student’s account. For example, if $5,000 is borrowed under the Federal Direct PLUS Loan program, $210.20 will be deducted from the student’s loan amount and paid directly to the U.S. Department of Education.