Direct Parent PLUS Loan

To meet the federally defined credit worthiness requirements, an applicant cannot be 90 days or more delinquent on the repayment of any debt, the subject of a default determination, bankruptcy discharge, foreclosure, repossession, tax lien, wage garnishment or write off of a Title IV debt during the last five years.

If the parent receives a denied credit decision on their PLUS Loan application, there are a few options. Parents can add a credit-worthy endorser, appeal the credit decision, or request the Additional Unsubsidized Direct Loan for the student. For more details on options and steps, please see this link. 

Interest begins to accrue after the first disbursement, and payment of principal and interest begins 60 days after the final disbursement. Parents can apply for an in-school deferment for as long as their student is enrolled at least half-time.

STUDENTAID.GOV LOAN SIMULATOR

All Direct PLUS Loans are subject federal origination fee which is subtracted from the loan at the time of disbursement.

When completing the online PLUS loan application, the parent will be presented with the option to either:

• Specify a loan amount

OR

• Borrow the maximum Direct PLUS Loan amount for which I am eligible
  • If the parent selects to borrow the maximum, please be advised the Office of Financial Aid will increase the loan amount up to the maximum amount based on the student’s eligibility.

Please Note: If you do not indicate an amount on your Parent PLUS Loan application, we will be unable to process the loan.

If an adjustment to the amount is needed for any reason, the parent must complete and submit a Loan Change Request Form before the start of the term.

This form is started by the student, but needs a parent signature to be officially submitted.