How does PLUS loan repayment work?

PLUS loan repayment occurs on an installation cycle, as with most student loans. As the parent of a student who needed funds for education, you took the loan in your name. As a result, you are the individual responsible for repayment. You may start repaying the loans immediately. If you have great financial need, you may be eligible to wait to begin repayment until after your student has graduated without paying any additional interest. Once you start repaying the debt, you will continue to make monthly payments until the debt is closed. Depending on your income, you may be eligible to write off the interest on the debts. 


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