Federal Direct PLUS Loan Frequently Asked Questions

Federal Direct PLUS Loans

  1. How much can my parents borrow?
  2. Are there any limitations on PLUS Loan eligibility?
  3. How do my parents apply?
  4. Do my parents need to find a lender?
  5. How is this loan disbursed?
  6. What is the interest rate?
  7. Are there any other charges for this loan?
  8. When do my parents begin paying back the loan?
  9. How do my parents pay back the loan?
  10. Can my parents defer repayment of this loan?
  11. What if my parents have trouble making their loan payments?
  12. Can my parents ever get out of repaying this loan?

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Financial Aid 101

Grants

Loans

Federal Work-Study

BMCC Financial Aid

Email: finaid@bmcc.cuny.edu
Phone: (212) 220-1430
Fax: (212) 346-8515
Location: Panther Station

Mailing Address:
199 Chambers St. NY, NY 10007, Room N-365

Hours:
Monday and Thursday: 9 a.m.–5 p.m.
Tuesday and Wednesday: 9 a.m.–6 p.m.
Friday: 10 a.m.–5 p.m.

 

School Codes:
FAFSA = 002691
TAP = 1404