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Parent Loans

Federal Direct Parent PLUS Loan

The Federal Direct Parent Loan for undergraduate students (PLUS) lets parents borrow money to pay for the educational expense of their dependent student. A parent PLUS loan is in the parent’s name and the parent’s responsibility to pay back. The interest on a PLUS loan begins accruing when the loan is disbursed. There is an origination fee on any PLUS loan of 4.228% (subject to change). The origination fee is deducted from each disbursement.

The origination fee and current interest rate are provided in a disclosure statement each borrower receives after the first loan disbursement. 

To be eligible to borrow a PLUS loan the following MUST be meet:

  • Student must have a valid FAFSA on file
  • Student must be enrolled at least half time (6 or more credit hours) in courses that are required for the declared program
  • Student must be meeting SAP requirements
  • Student and parent cannot be in default on any educational loans

To apply for a PLUS Loan the following steps must be completed:

  • Parent must complete the Parent PLUS loan application at Parent will need to log in with the parent FSA ID.
  • Parent must complete a PLUS loan Master Promissory Note (MPN) or loan agreement at

What if the PLUS loan is Denied?

  • If your PLUS loan is denied you have some options: you can appeal the denial, obtain a credit worthy endorser, or your student can borrow additional unsubsidized student loan funds.
  • If you do not wish to appeal or obtain an endorser, your student will receive additional communications on how to affirm their acceptance of additional unsubsidized student loan funds.