PLUS Versus Private Loans

There are many options available to cover the amount that is due after financial aid has been applied. The College’s tuition payment plan is available to spread out payments interest free for up to 12 months. Or, if additional funding is needed, a parent may choose to borrow a PLUS loan or a student can borrow a private loan (this is in addition to the federal Stafford/Perkins loan that may already be awarded in the financial aid package).

If additional funding is needed, it is sometimes difficult to determine the loan that is best for your family. Please consult the information below that lists some of the advantages and disadvantages of the PLUS and private loan to assist you. We hope this information is beneficial in your decision-making process and encourage families to contact the office for additional information.

Comparison of PLUS Loan and Private Loan