How soon will my parents have to begin payment of a Parent PLUS Loan? A: Repayment of PLUS Loans begin no later that 60 days after the final disbursement of the loan.
Q: What are the current interest rates for loans? A: Federal Stafford Loans 6.8 % Fixed Federal Perkins Loans 5% Fixed College Access Loans (CAL) http://www.hhloans.com/cfbin/FAQ.cfm?ProgID=36. PLUS Loans 8.5% Fixed Q: When does repayment of my student loan begin? A: You are given a grace period before you begin to repay loans. This time allows you to find a job and get settled before the repayment period starts. For Federal Stafford Loans the grace period is 6 months, and for Federal Perkins Loans it is 9 months. Q: Will financial aid be renewed each year? A: Students must file a new FAFSA at the beginning of every academic year. Students who apply for the fall semester will be awarded for fall and spring at one time, and the same information will be used to award in the summer terms. Q: When will I receive my loan money? A: All students who accept a Stafford Loan must complete a Master Promissory Note (MPN) at www.dlenote.ed.gov.
