Through the Diamond Benefits®
Program, Federal
PLUS Loan borrowers will
receive up to a 2% interest
rate reduction when their loan
enters repayment.
Borrower
Benefits
- An immediate 0.25% interest
rate reduction when the loan
enters repayment
- A 1.75% interest rate reduction
for automatic payment deduction
- A delayed repayment option is available for up to four academic years
If you opt to discontinue automatic payment deduction, the rate reduction benefit is lost and the rate will default to the higher government-set rate for all Federal PLUS Loans.
How
to Apply
Students must complete a Free
Application for Federal Student
Aid (FAFSA) to determine
aid eligibility, and parents
must complete a Federal
PLUS Loan Master Promissory
Note (MPN).
Borrower
Eligibility
- Be a U.S. citizen or eligible
non-citizen with a dependent
undergraduate student attending
any school approved by the
U.S. Department of Education
that uses Brazos Higher Education
Services Corporation, Inc.
as their loan servicing agent
- No income requirement
- Must meet the standard PLUS
eligibility requirements
- Dependent undergraduate
student must be accepted for
enrollment in a participating
school; or if enrolled, be
making satisfactory progress
- Dependent undergraduate
student must be classified
as at least a half-time student
and working toward a degree
or certificate
- Borrower or dependent
undergraduate student must
not be in default on an education
loan or owe any education
grant refund
For more information,
contact our customer service
center to speak with one of
our education loan specialists
at 800-762-1001, Monday through Friday from 8am to 6pm Eastern
time.
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