Federal Direct Parent PLUS Loan
The Federal Direct Parent PLUS Loan is available to parents (eligible parents include the stepparent, if listed on the FAFSA, the biological, or adoptive parents) of dependent undergraduate students to assist in supporting their financial aid award. The loan can be used to cover educational expenses not met by the student"™s other financial aid awards.
How to Apply
- Step 1 of 2: Complete a Federal Direct PLUS Loan Application at www.studentloans.gov
Once the parent has signed in, select "Request a Direct PLUS Loan" then select and follow the instructions for the "Parent PLUS"
- Step 2 of 2: Complete a Federal Direct PLUS Loan Master Promissory Note (MPN) at www.studentloans.gov
Once the parent has signed in, select "Complete Master Promissory Note" then select and follow the instructions for the "Parent PLUS"
Qualified Borrowing Amounts
Parents may borrow up to the Cost of Attendance minus any other financial aid.
- The student for whom the parent is borrowing must have a FAFSA on file
- The Direct Parent PLUS Loan is subject to a credit analysis. In the event of adverse credit, the borrower may obtain a credit worthy co-signer to receive the loan, appeal the credit decision, or allow their student to receive an additional amount of Unsubsidized Stafford Loan. A freshman or sophomore student may receive up to an additional $4,000 for a year. A junior or senior student may receive up to an additional $5,000 for a year