Direct Parent Loans for Undergraduate Students (PLUS)

How Parent Plus Loans Work

A Parent PLUS Loan is an education loan specifically for parents (biological or adoptive) of dependent undergraduate students. Parents can borrow up to the cost of attendance minus any other financial aid the student is receiving. For example, if the cost of attendance is $50,000 for the year and the student has a scholarship and other aid of $15,000 toward the school cost, the parent can borrow up to $35,000.

Applying for a Parent PLUS Loan
Parents must complete this application; it cannot be completed by a student. Be sure that all information is entered correctly, as incorrect information could delay the processing of the application.  Application for each academic year is made available in April.

Repayment of principal and interest begins 60 days after the loan is fully disbursed or parents now have the option to defer payments while their student is in school. Parents can also opt to let the interest accrue until the student leaves school; However, any interest that accrues from the date of disbursement is added to the outstanding loan balance through a process called capitalization.

Apply for a Parent PLUS Loan

PARENTS: Please use your FSA ID username and password to complete the plus loan application (not the student's)

• Log on to the Direct PLUS Loan Application with your parent FSA username and
  password (NOT the student's)
• Choose ‘Loans and Grants’
• Click on PLUS Loan (Grad PLUS and Parent PLUS)
• Click the button at I am a Parent of a Student and complete the application
• If the loan is approved, complete the PLUS Master Promissory Note (MPN) on the same website
• If the parent loan is denied, the student is eligible for an additional Unsubsidized Loan (yearly amount is $4,000 for first-year/sophomore or $5,000 for junior/senior).
• Please note: If the PLUS loan is denied and later appealed or approved, the additional Unsubsidized Loan must be returned to the lender

If you use an endorser/co-signer or an appeal process, you must complete PLUS Counseling on the same website and complete the Master Promissory Note (MPN). 

Financial Aid Overview