Federal Parent PLUS Loan

• 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.
• 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
• • Complete a FAFSA each award year.
    
  • Meet Satisfactory Academic Progress each semester.
    
  • Meet all other eligibility 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