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 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 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 endorser to receive the loan or appeal the credit decision. PLUS Loan Counseling (available on studentloans.gov) is required if you choose to seek an endorser or appeal the credit decision. If you use an endorser, you must complete a new Master Promissory Note each time you borrow a Direct Parent PLUS Loan.
If you do not wish to seek an endorser or appeal the credit decision, your student may 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