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Student Loan Services - Federal Parent (PLUS) Loan   

• Federal Parent Loan (PLUS) borrowers must be a parent whose undergraduate dependent student is enrolled at least half-time.
  
• Federally mandated credit checks are performed on all prospective parent borrowers.
  
• Interest rate is a fixed rate of 8.5%.
  
• Borrowers may be assessed fees up to 4% of the total loan amount. These fees are deducted proportionately from each disbursement of the loan.
  
• The loan funds will be sent directly to the school the student is attending. In most cases, the loan will be disbursed in at least two (2) equal installments. The disbursement dates are determined by the school.
  
• The loan request cannot be processed until the Federal PLUS Loan Application and Master Promissory Note is received by Simmons First. The Application should be mailed to:
  
  SIMMONS FIRST
  P.O. BOX 7408
  PINE BLUFF, AR 71611

By signing the Master Promissory Note, you are enterting into a legal and binding contract. You are required by Federal law to repay the full amount borrowed.

• Repayment begins on the date of the final disbursement of each loan; however, the borrower may be eligible to defer payments as long as the student is enrolled at least half-time.
• Five (5) repayment plans are available to fit a variety of individual income levels as you repay your student loan.
   Click here to find the plan that best suits your needs.

To better serve borrowers and schools, Simmons First now offers the PLUS Loan Pre-Approval Program. Once a request is received, we will obtain and review a borrower's credit report. Both approvals and denials are followed up with appropriate application materials and/or written correspondence. Just click on the link below to get a printable version of the Simmons First Federal PLUS Loan Pre-Approval Credit Request.

  Federal Parent (PLUS) Loan Limits