Federal Direct Parent PLUS Loan
The Federal Parent PLUS Loan is an alternative loan option for parents or stepparents
of dependent students.
7.21% Fixed Interest Rate
4.292% Origination Fee
Federal Direct Parent PLUS Loan Eligibility:
- A valid student FAFSA is required
- If the student is selected for verification, that process must be complete
- Student must be enrolled at least half-time in a degree-granting program
- Student must be meeting Satisfactory Academic Progress
- Easiest alternative loan to qualify for
- Parent may borrow up to the cost of attendance, less any other offered aid
- If the Parent PLUS Loan is denied, the student may be offered up to $5000 in additional
- Funds are sent directly to the school
To Apply for the Parent PLUS Loan:
Please read these instructions BEFORE accessing the application.
1) The parent borrower must Sign In at www.studentloans.gov
- Enter the FAFSA PIN of the parent that is applying for this loan.
- If parent does not have a PIN, go to www.pin.ed.gov to apply for one; or
- If parent has forgotten PIN, may "Request a Duplicate PIN"
2) To begin the PLUS Loan application, select "Request a Direct PLUS Loan"
3) Select "Parent PLUS Loan" and complete the four application steps
4) If loan is approved, the parent borrower must complete a Master Promissory Note while logged into www.studentloans.gov
For Academic year 2014-2015, select the 2014-2015 Award Year
For Summer 2015, select the 2014-2015 Award Year, with a loan period of 5/2015 - 8/2015.
Applications for 2015-2016 will be available on May 1, 2015
Frequently Asked Federal Direct Parent PLUS Loan Questions