The Federal PLUS loan is a credit-worthy loan for the parent or legal guardian of a dependent student or a graduate student who has borrowed the maximum amount of Stafford loan assistance. If you are a dependent student, your parent(s) can borrower up to your cost of education less all other financial aid received. Graduate students are also eligible to borrow up to their total cost of education less all other financial aid received. Federal PLUS loans are not based on need but rather the borrower's creditworthiness.

• Villanova University parents who wish to apply only for a Federal PLUS loan should complete the FAFSA and the Federal PLUS Loan Master Promissory Note (MPN).

• Graduate students who wish to apply for a graduate PLUS loan should complete the FAFSA, the Villanova University Graduate Financial Aid Application, and the Federal PLUS Loan Master Promissory Note (MPN).

The FAFSA is available online at www.fafsa.ed.gov, and the Federal PLUS loan MPN can also be completed online.

Fees
The Federal origination fee of 3% is deducted from your loan at disbursement. The guaranty agency, American Education Services (AES), pays the 1% Federal default fee (subject to change).

Interest Rate
The interest rate is fixed interest rate of 8.50% for all loans disbursed after July 1, 2006.

For parents of dependent undergraduate students, repayment normally begins within 60 days after the loan has been fully disbursed. However, through the PNC Bank Manageable PLUS Loan Program parents may delay their payments while the student is enrolled at least half-time for up to four academic years. When you receive your repayment disclosure, if you feel that immediate repayment may cause temporary hardship, you may call PNC Bank at 1-800-859-5138 and apply for a temporary hardship forbearance. Forbearance can be granted for no more than twelve months at a time. You must submit a new request each year for a maximum of four academic years.

Graduate students will automatically receive an in-school deferment while they are enrolled at least half-time. Once you graduate, or drop below half-time status, repayment will begin within 60 days after your enrollment status has changed.

Borrower Benefits

• No default fee†
• A 0.70% interest rate reduction for automatic payment deduction*
• Delayed repayment options available**

† The federal default fee will be waived if the participating guarantee agency selected by the lender will pay the fee.

* The interest rate reduction for automatic payment deduction will be lost if automatic payment deduction is discontinued. Benefits are effective for loans first disbursed on or after 5/23/08.

** Delayed repayment option: When you need it most, PNC Bank can assist you by delaying your PLUS Loan payments while your student is enrolled at least half-time. Contact us for more information.

PNC Bank reserves the right to modify offered interest rates, fees and borrower benefits at any time without notice.