The Federal Direct PLUS Loan program is a non-need-based source of loan funds for the parent(s) of dependent students. Federal Direct PLUS Loans may be used in conjunction with Federal Direct Loans for students. Each year, parents of dependent students may borrow an amount not to exceed the cost of attendance less any financial aid (including Federal Direct Loans).
- A Master Promissory Note is required.
- A credit check is required
- Pre-approval is required
The Federal Direct PLUS Loan on the undergraduate level is only available to parents.* Repayment begins 60 days after the final disbursement is made unless the parent borrower makes other arrangements with their lender to defer repayment.
*An eligible parent is defined as the biological or adoptive parent of an undergraduate student. Guardians are ineligible for a Parent Loan. In some cases, a step-parent may be eligible to apply for a PLUS loan. While the custodial parent completes the FAFSA form, a non-custodial parent may be the parent who applies for the PLUS loan. However, the amount eligible to borrow will be based off of the custodial parent’s FAFSA form results. Be prepared to provide proof of the parental relationship, if required.
PLEASE NOTE: This loan is in the parent’s name and the parent will be responsible for repayment of the loan. The loan cannot be transferred to the student. Loan requests are due 30 days prior to the start of the semester. Federal PLUS Loans are not to be used as a mechanism for securing enrollment for a student who files their FAFSA late (June 1st-Priority Filing Date). A student must have a payment method in place to pay for classes at the time tuition is due.
Proceed to How to Apply–>