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Student Plus Program™

Graduate Leverage is no longer offering the Student Plus Program. We apologize for any inconvenience this may cause and recommend checking with your school’s financial aid office to learn more about supplemental funding options that are available to meet educational costs.

All existing Student Plus Program customers will be notified by Graduate Leverage about the cancellation of this program. Should you have any questions, please call 877-844-9580.

Below are a few points to consider as you look into alternative funding options:

• The Federal Direct Parent PLUS Loan is a wise option for both students and parents. It offers a low- fixed interest rate of 7.9% resulting in predictable payment amounts during the loan’s repayment period. Consider the Direct PLUS Loan option to help fund upcoming dependent undergraduate enrollment.
• Parents have the option to apply for a deferment during the student’s in-school period which will delay payments until after graduation or separation from school. This is an option most private loan programs have recently eliminated.
• Private loans should only be considered after all federal loan options have been exhausted. These loans typically carry origination fees and variable interest rates that depend on the applicant’s credit scores.

How Do Private Student Loans Compare To Federal Direct Parent PLUS Loans?

To bridge the gap between the cost of education and what is allotted by other types of aid, families often choose between private student loans and Federal Parent PLUS Loans. However, over the last few years interest rates on private student loans have risen and eligibility requirements have become extremely stringent. Below you will find a comparison between these two common supplemental funding options that are available to undergraduate students and parents: private student loans and Parent PLUS loans.  

• Private Student Loans: Current economic conditions have made this option less attractive.   » View details of private student loans
  • Repayment Responsibility: Student may serve as the primary borrower but most programs require a cosigner. Some programs also require payments while the student is in-school
  • Cost: Most have variable interest rates that currently average approximately 10%*. Fees and rates may vary based on lender's credit standards and the credit profile of the student borrower and/or parent cosigner
  • Eligibility: More restrictive criteria than federal loans and may vary by lender's credit standards, school type and student degree
• Federal Parent PLUS Loan: Often not used because the parent is the sole borrower, but the terms are far superior to most private student loan offerings.   » View details of Parent PLUS loans
  • Repayment Responsibility: Parent is responsible for repaying the loan
  • Cost: Fixed rate (7.9% for Direct PLUS and 8.5% for FFELP PLUS). Fees: 2.5% to 4%
  • Eligibility: Parent's credit must be in good standing but credit score is not used to determine rate or eligibility 

The Graduate Leverage Student Plus Program

The Graduate Leverage Student Plus Program was offered as a lower cost alternative to traditional private student loans. Our program was designed for undergraduate students and parents who have educational costs not covered by financial aid, such as scholarships, grants, work study or Stafford loans. The Student Plus Program used the Federal Direct Parent PLUS Loan as the underlying source of funds, but put the parent and student in a similar position to a cosigned private loan scenario. The Student Plus Program established an arrangement between the student and the Federal Direct Parent PLUS borrower, the parent. Under the Student Plus Program, the student would make payments on the Federal Direct Parent PLUS Loan following graduation.

Notes and Assumptions

The Graduate Leverage Student Plus Program is not affiliated with the U.S. Department of Education
or the Federal Parent PLUS Loan Program.

*Student Lending Analytics Blog, Sept. 2009.

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