Federal Parent Loans (PLUS)
Parents of dependent students deemed by the FAFSA application may apply for loans to supplement their child’s financial aid. The parent may borrow funds to cover up to the full cost of attendance. Parent PLUS loans are the financial responsibility of the parents, not the students. Also, it should be noted that students who are selected for verification must complete the verification process before any aid, including the PLUS loan, can be applied to their account.
Eligibility for a Direct PLUS loan is determined by a credit check. Parents determined to have adverse credit will not be approved. Parents who are denied a PLUS loan may apply with a qualified endorser. An endorser is someone who agrees to repay the loan if you do not repay it.
Only one parent needs to apply for a PLUS loan. If a parent is denied a PLUS loan, a student will be eligible to receive the additional Unsubsidized Stafford Loan that an independent student would be eligible for.
The custodial parent and the noncustodial parent are eligible to borrow from the PLUS loan program, provided the combined amounts borrowed do not exceed the cost of attendance.
Parents may apply for a PLUS loan if:
- They are United States citizens or eligible non-citizens.
- They are not in default on a federal student loan.
- They do not owe a refund on a federal education grant.
How to Apply
The PLUS loan is a two-step process:
- Visit the Student Loan (click to visit) website and the Parent must sign in with their FSA ID.
- Select “Apply for a Direct PLUS loan.”
- Under the Direct PLUS Loan Request for Parent Borrowers section towards the bottom, select Direct PLUS Loan Application for Parents > “START.”
- Make sure the Parent is the borrower and the Student is in the student section.
- If the Parent is approved, that parent must complete a master promissory note as well.
- Select “Complete Loan Agreement (Master Promissory Note).“
- Select PLUS MPN for Parents > “START.”
- Make sure the parent’s information is in the borrower section.
- If the Student is the borrower on the PLUS application, the application is invalid and nothing will happen with the application.
- Please note the PLUS loan credit expires 180 days after the approval date.
- In order for the approved loan to be certified by our office, we must have the approved PLUS application and signed MPN completed before the end of the semester to which the PLUS loan applies.
- Scholarships.com – Search millions of college scholarships and grants.
- Fastweb – A leading scholarship search provider for over 15 years, this site features a comprehensive database of available scholarships, plus information and advice that could help you win more scholarships
- Studentaid.ed.gov – This site is sponsored by the U.S. Department of Education. You can access much of the information, publications, and links on the site without an I
- CollegeScholarships.org – Grants listed by state
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