Federal Direct PLUS Loan for Parents

Through the federal government’s PLUS program, parents of dependent undergraduate students can borrow up to the student’s cost of education minus the financial aid awarded to the student.

No demonstration of financial need is required for the loan. The fixed interest rate and origination fee are set by the federal government each year. Borrowers have several repayment options, including a deferred option while the student is in school.

To apply for a Federal Parent PLUS Loan: 

  • Complete a Free Application for Federal Student Aid (FAFSA) online at FAFSA’s website.
  • Request a PLUS loan online at federalstudentaid.gov to fill out an application for the loan. This request must be completed each year that you wish to borrow. The request authorizes a credit check and determines your loan eligibility at that time.
  • Complete a Direct PLUS Loan Master Promissory Note (MPN) online at the federalstudentaid.gov. If you completed a Direct Loan MPN in a previous year, you are not required to complete another one. Direct PLUS Loan MPN’s are valid for 10 years.