The Federal Parent PLUS Loan is an alternative loan option for parents or stepparents of dependent students.
- 7.60% Fixed Interest Rate
- 4.276% Origination Fee
Federal Direct Parent PLUS Loan Eligibility
- Student must be enrolled at least half-time in a degree-granting program
- A valid student FAFSA is required
- If the student is selected for verification, that process must be complete
- 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 unsubsidized loan
- Parent can select to have repayment deferred while student is in school
- Funds are sent directly to the school
To Apply for the Parent PLUS Loan
Please read these instructions before accessing the application.
- The parent borrower must LOG IN at www.studentloans.gov
- Enter the FSA ID of the parent that is applying for this loan.
- If parent does not already have an FSA ID, please click here and follow the instructions to obtain one.
2. Select "Apply for a Direct PLUS Loan"
3. Click "START" for the "Direct PLUS Loan Application for Parents" 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.