So then the loan cannot be deferred until graduation? Is this a new condition, because I read yesterday on the FAQ for parent plus loans that:
"When do I begin repaying a PLUS Loan?
Parents now have the choice of making payments while the student is in school or deferring payments until the student graduates. If you choose to pay after graduation, interest will accrue from the time of full disbursement. You can choose to pay the interest monthly, or you can defer both interest and principle until the student graduates. If you choose not to pay the interest monthly, it is capitalized no more than four times per year."
I'm not trying to seem obnoxious or anything by being that guy who sits there and quotes a rulebook at someone, I'm just trying to figure out if I'm misunderstanding something.