Federal Direct Parent Plus Loan - Undergraduates Only
The Federal Direct Parent PLUS loan is a preferred way for families of undergraduate students to cover the cost of their student's education when the cost exceeds the amount you have budgeted for this commitment. PLUS loans enable parents with good credit histories to borrow to pay the educational expenses of their dependent children. The interest rate is fixed at 7.9 percent. Generally, repayment begins 60 days after the loan is fully disbursed. Additional information about Parent PLUS loans can be found on our Loan Programs page.
If you wish to borrow a Federal Direct Parent PLUS loan, you must first submit a Free Application for Federal Student Aid (FAFSA). You will also need to complete and submit a Parent Borrower Form to the Office of Financial Aid before processing of your loan can begin.
Willamette offers a deferred payment program through Tuition Management Systems (TMS), a third party service provider. This interest-free payment plan offers students a program through which educational expenses for the year can be spread out over 8, 10 or 12 months. This monthly payment plan option has a $75 application fee for the year. Under this plan you divide your net expenses for the entire year by 8, 10 or 12 to determine your monthly payment. If you enroll in the payment plan please remember to compare your calculated budget to your actual account balance. If you need help determining your payment plan budget, please contact the Student Accounts Office at (503) 375-5308. Please call TMS at 1-800-722-4867 or visit their website at https://willamette.afford.com for more information or to enroll in a payment plan.
For more information on making payments for tuition and housing, please visit the Office of Student Accounts website.