Federal Parent PLUS Loans are available for parents of dependent undergraduate students who are enrolled at least half-time and are meeting satisfactory academic progress requirements. The parent must be the biological, adoptive or stepparent of the student for whom they are borrowing. Parents may borrow up to the cost of attendance minus any other financial aid the student will receive. The FAFSA is required. PLUS loans are subject to a credit check.

Interest begins to accumulate on the date of the first loan disbursement. The repayment period begins on the date the loan is fully disbursed. The first payment is due within 60 days after the final loan disbursement. There are deferment options that will allow you to defer the loan while the student is enrolled at least halftime.  You will receive further information about repayment and deferment options from the Direct Loan Servicer. Borrowers who have no outstanding PLUS Loan balance and who receive funds for the first time after July 1, 1994, will have a rate of interest not to exceed 9 percent on new Federal Parent Loans.

Steps to Apply

If the eligible parent of an undergraduate student accepts the Federal Direct Parent PLUS Loan, the following steps MUST be completed in order to process the loan. The parent borrower must be listed on the student's FAFSA.  Upon credit approval and completion of all requirements, the loan funds will be disbursed to the school at the appropriate time.

  1. Complete credit check for approval at studentloans.gov -- Click on the link that says "Request PLUS Loan" and select "Parent PLUS." Fill out the application and submit. Credit check information is only valid for 180 days.  If parent's credit is denied, the student should contact the Office of Student Financial Assistance for information about additional loan options.  
      
  2. Sign a PLUS Master Promissory Note at studentloans.gov -- Click on the link that says "Complete MPN", select "Parent Plus" and follow the instructions. 
      
  3. PLUS Loan Authorization Form -- The student and the parent must complete the PLUS Loan Authorization Form and submit it to the Office of Student Financial Assistance. This form is also required if the parent wants to increase the amount of funds originally requested. This form is required each time a PLUS loan is offered.

*Parent PLUS Loan Eligibility Confirmation Form

If the parent who is borrowing the Parent PLUS loan is not listed on the student’s FAFSA, the *Parent PLUS Loan Eligibility Confirmation Form and required documents are required to process this loan.

PLUS Credit Counseling

PLUS credit counseling is available at www.studentloans.gov.  PLUS credit counseling may be completed voluntarily at any time.  PLUS  credit counseling is REQUIRED if the U.S. Department of Education has informed you that you have an adverse credit history and

a.  You have obtained an endorser

     Or

b.  You documented to the satisfaction of the U.S. Department of Education that there are extenuating circumstances related to your adverse credit history.