Federal Parent PLUS Loan

A Direct PLUS Loan is a non-need-based loan available to parents of undergraduate students to aid in paying for educational expenses.


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Eligibility

  • Complete the FAFSA.
  • The parent must be the student’s biological or adoptive mother or father. A stepparent is also eligible to borrow a PLUS loan if their income and assets are taken into account on the student’s FAFSA application. A legal guardian is not considered a parent for this purpose.
  • The parent must complete the Parent PLUS loan request and notify the Financial Aid and Scholarship Office.
  • Undergraduate students must be enrolled in at least 6 eligible credit hours.
  • The parent must e-sign a Master Promissory Note (MPN)
  • The parent must have acceptable credit. The U.S. Department of Education will run a credit check.

Loan Details

  • Award Amount

    The maximum loan amount is the cost of attendance (determined by the school) minus any other financial aid received.

  • Loan Fees

    There is a loan fee on all PLUS loans.

    The loan fee is a percentage of the loan amount and is proportionately deducted from each loan payment.

    View Current Loan Fee Percentage

  • Interest Rate

    Learn about interest rates and how much it costs to pay back a loan.


    View Current Interest Rates

  • Disbursement

    Parent PLUS loans will pay balances on the student’s account first.

    Any excess will be disbursed to the parent unless otherwise noted on the Parent PLUS Loan Request.

  • Continued Eligibility: Student Requirements


  • Continued Eligibility: Parent Requirements


    • Complete the Parent PLUS Loan Request each year.
    • E-sign an MPN if it has expired.
    • Prove credit worthiness by passing a credit check each year a PLUS Loan is requested.
    View Your Pell Grant and Loan History