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Parent PLUS Direct Loan
Parent PLUS Direct Loan

»Parent PLUS Direct Loan

Parents with no adverse credit may borrow a loan for their dependent child's educational costs. Parents may borrow up to the cost of attendance minus other financial aid. The loan enters repayment once the loan is fully disbursed but may be eligible for a deferment. The parent will have to contact the loan servicer for arrangements and more information.

  • Non-need-based
  • Student must be enrolled at least half-time
  • Interest accrues while student is in school
  • Payments can be deferred while student is enrolled at least half-time
  • 8.05%  interest rate for loans first disbursed between 7/1/2023 and 6/30/2024*
  • 9.08%  interest rate for loans first disbursed between 7/1/2024 and 6/30/2025*
  • 4.228% origination fee for loans first disbursed between 10/1/2020 and 9/30/2024*

*Subject to change.


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How to Apply

  1. Accept the Parent PLUS Direct Loan
    • The student will need to log into the Student Center to accept the Parent PLUS Direct Loan.
  2. Have a parent log on to StudentAid.gov with their FSA ID Username and password and select Apply for a Parent PLUS Loan.
  3. If they are approved for the loan, the parent will also need to complete a MPN. They may do this by selecting Complete Loan Agreement (Master Promissory Note) from the main page and complete the PLUS MPN for Parents.