Direct Parent Plus Loans

Federal Parent Loan for Undergraduate Students (PLUS) are low-interest loans specifically for parents to help pay for the cost of a student's education after high school.

Federal Direct Parent PLUS Loan

Maximum of total costs less other financial aid
This loan is non-need based and repayment begins 6–8 weeks after spring disbursement. Interest rate is 7.9%.

Read Parent PLUS loan FAQs.

 

PLUS Loan Authorization Instructions

If you have been awarded a PLUS Loan, please follow these steps to accept the award:

1. Complete the Federal Direct PLUS Loan Application form.
2. Complete the PLUS Master Promissory Note (MPN) at studentloans.gov. Sign in to the "Manage My Direct Loan" section with the PIN you used to sign the FAFSA.

The Direct Loan Program will send you a loan disclosure statement once your loan has been processed. It will show the total amount of your loan, the disbursement amounts and the estimated disbursement dates.

 

NOTE: Lender for Federal Stafford and PLUS loans

The lender for the Federal Direct Stafford loans and PLUS loans changed in 2009 to the U.S. Department of Education—not a bank or financial institution.