The PLUS Program for Parents (of undergraduates): Repayment Deferral
120-month payment option

Parent borrowers have the option of deferring repayment based on the enrollment status of the student on whose behalf a Direct PLUS Loan was obtained. Parent Direct PLUS Loan borrowers may defer repayment while the dependent student is enrolled on at least a half-time basis and during the 6-month period after the student ceases to be enrolled on at least a half-time basis.

To request deferment borrowers must call the Direct Loan Servicing Center (DLSC) at (800) 848-0979. Currently there is no deferment form available for a parent borrower to use to request this deferment. In the future a deferment form will be readily available on the web.

Interest will accrue during the deferment period. The borrower will be sent quarterly interest statements and will have the option of paying the interest as it accrues during the deferment period. If the parent does not pay the interest as it accrues, the unpaid accrued interest will be capitalized (added to the principal balance) at the end of the deferment period.