PLUS Loan Repayment 

A PLUS Loan is made directly to the parent, not the student, so responsibility for repayment rests with the parent. You may borrow up to the cost of the student's education less any other financial aid awarded. Repayment begins within 60 days of the final loan disbursement, unless you choose to postpone repayment while the student is in school at least half-time.

Choose from a variety of repayment options. Interest-only payments are available when the student is enrolled in school at least half-time. You can postpone your loan repayment if you meet current guidelines for an in-school, unemployment or financial hardship deferment. Your minimum monthly payment is $50. The maximum repayment term is 10-25 years, based on your total loan balance.