The federally sponsored Parent PLUS loan is a low-interest student loan for parents of undergraduate, dependent students. With a Parent PLUS loan, families can fund the entire cost of a child's education (less other financial aid).

Apply now!

• You may apply for a Parent PLUS loan to pay for the higher-education-related expenses of an undergraduate, dependent child. Parents of independent students are not eligible.
• You must be a U.S. citizen or national, a U.S. permanent resident, or eligible non-citizen.
• A credit check is required.

• 0.25 percentage point interest rate reduction for making payments using automatic debit.¹

• Flexible repayment options are available.
• Postpone repayment while the beneficiary student remains enrolled at least half time and for an additional six months afterward.
• You can manage your account online 24/7.
• There is no prepayment penalty.
• There are no income or collateral requirements.
• Borrowers who are not Parent PLUS eligible on the basis of their own credit may become Parent PLUS eligible if they have a creditworthy endorser. The endorser must be a U.S. citizen or national, a U.S. permanent resident, or other eligible non-citizen.
• Interest may be tax-deductible.
• We have an easy online application and approval process with an instant credit decision.

Loan limit

You may borrow up to the full cost of your child's education less other aid received. 

• Standard repayment: You make both principal and interest payments each month up to a 10-year repayment term. This plan has the lowest total interest cost.
• Graduated repayment: You make reduced payments in the early years of repayment and increased payments thereafter, while still paying off the loans within the maximum 10-year period. With graduated repayment, you have a higher total loan cost than with standard repayment.
• Income-sensitive repayment: Payments are a percentage of your gross income. You must reapply every year for this plan and payments are adjusted annually to reflect changes in income. With income-sensitive repayment, you have a higher total loan cost than with standard repayment.
• Extended repayment: If you have high student loan debt, you may be eligible for up to a 25-year repayment term and the choice of standard or graduated payments to keep payments affordable. With extended repayment, you have a higher total loan cost than with standard repayment.

• You are responsible for all interest that accrues on the Parent PLUS loan. Unpaid interest will be capitalized (added to the loan principal) and you will therefore pay interest on a higher amount.
• Repayment on a Parent PLUS loan begins within 60 days after the final disbursement of the loan.
• Fifth Third reserves the right to modify or discontinue loan programs at any time without notice.

¹ Borrowers who authorize the automatic debit of funds from their checking or savings account to cover their monthly education loan payments will receive an interest rate reduction of 0.25 percentage point on eligible Parent PLUS Loans. Assuming the loan is serviced by Sallie Mae, this benefit remains available during active repayment for as long as the borrower's monthly payment is successfully deducted from the borrower's account. If the loan is not serviced by Sallie Mae, other restrictions may apply as determined by the U.S. Department of Education.
FIFTH THIRD RESERVES THE RIGHT TO MODIFY OR DISCONTINUE LOAN PROGRAMS AND BORROWER BENEFITS AT ANY TIME WITHOUT NOTICE. APPLICANTS SHOULD CHECK THE FIFTH THIRD WEB SITE CLOSE TO THEIR LOAN DISBURSEMENT DATE TO OBTAIN THE MOST UP-TO-DATE INFORMATION REGARDING LOAN PROGRAMS, INCLUDING BORROWER BENEFITS.
Subject to the above, borrower benefits are effective for Parent PLUS Loans guaranteed June 9, 2008 through June 30, 2009.
Fifth Third and Fifth Third Bank are registered service marks of Fifth Third Bancorp. Member FDIC. All loans subject to credit review and approval. Upromise Loan Link and the Upromise logo are service marks or registered service marks of Upromise, Inc. Sallie Mae is a registered service mark and Manage Your Loans is a service mark of Sallie Mae, Inc. SLM Corporation and its subsidiaries, including Sallie Mae, Inc., are not sponsored by or agencies of the United States of America. ©2008 by Sallie Mae, Inc. All Rights Reserved.