Repayment of the Federal PLUS loan

You would normally be required to start repayment on your loan effective the date the loan is fully disbursed, with the first payment due no more than 60 days later. However, for loans first disbursed on or after July 1, 2008, you can request to defer repayment during the time you (or your child) is enrolled at least half time and until six months after you (or your child) graduate, withdraw, or drop below half-time enrollment. Interest will continue to accrue on the loan even if it is deferred.
The maximum repayment period is 10 years.
Payments are expected each month.
The minimum monthly payment is $50, but may be higher depending on your balance.
You may prepay your loan at any time without penalty. Prepayment may substantially reduce your interest costs.

Payment plans

Standard:

Minimum monthly payment is $50, but may be higher depending on balance
Maximum repayment period of 10 years

Graduated:

Begins with lower payment amounts that increase over time.
More interest will accrue over the life of the loan because the principal balance decreases at a slower rate.

Income-sensitive:

An adjusted payment amount based on gross income
Payment will be the greater of your monthly interest amount or 4 percent of your gross monthly income
Eligibility and payment amount verified annually
More interest will accrue over the life of the loan because the principal balance decreases at a slower rate.

Extended:

Available to new borrowers on or after October 7, 1998, who have a minimum balance of $30,000 in loans
Payment amounts can be either fixed annually or graduated
Maximum repayment term is 25 years

Reminder

You, the parent, borrow the Federal PLUS loan, and you can't transfer the debt to your student. While some parents and students may agree to transfer the debt to the student, this obligation legally remains in the parent's name.