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Parent PLUS Loan

The Direct Parent PLUS loan program is an educational loan provided by the Department of Education.

The PLUS Loan was created to assist parents of dependent students in obtaining educational loan funding. The borrower of this loan is the parent. Factors to consider with a PLUS loan are:

  • The interest rate is 6.84%
  • An origination fee of 4.288%, paid to the government, is deducted from the loan to help reduce the cost of the PLUS program
  • The borrower has the option of beginning repayment on the PLUS loan either 60 days after the loan is fully disbursed or wait until six months after the student on whose behalf the parent borrowed ceases to be enrolled on at least a half-time basis
  • To be eligible a parent must pass a credit check
  • The maximum amount parents can borrow is equal to the cost of attendance less any other financial aid

Half of the loan is disbursed each semester.

1. Go to You will need your “Federal Student Aid” Username/Password, which is now required to sign the FAFSA (this replaced the Federal PIN Number).

2. Sign in. Select “Request a Parent PLUS loan” on the left side bar. Complete the form, submit for the credit approval. You will receive the results in moments. If credit is denied, contact the financial aid office for more options.

3. First time PLUS Loan Borrowers must sign the Master Promissory Note (MPN) with the Department of Education once credit is approved. Select “Complete MPN” under “Master Promissory Note” on the left side bar on the web site.

Repeat PLUS Loan Borrowers do not have to sign another MPN provided the previous MPN:

A) is designated to the same student;

B) is signed by the same parent; or

C) does not have an endorser.

You may check if you have a valid MPN with the Department of Education by signing into the and then selecting the "Completed MPN's" option.