Federal Direct Parent Plus Loan

Loan Limits:

Up to the cost of education less any aid received.

Who is Eligible:

Parents of dependent students. The parent borrower may be the biological parent, adoptive parent, or the step-parent whose information is on the current year FAFSA. The student must be half-time (ugrad:6 credit hours)

How to Apply:

  • Submit FAFSA in early October each year.  Parent must apply at StudentAid.gov by logging in with their FSA ID and apply for a Parent PLUS Loan.
  • The PLUS loan requires a credit worthy parent borrower.
  • Parents who are interested in borrowing the Federal Direct Parent PLUS must complete the PLUS Master Promissory Note (MPN) at StudentAid.gov with their FSA ID.
  • Applications for Summer 2020 PLUS are available May 1, 2020. Applications for Fall/Spring 2020-2021 and/or Fall 2020 are also available May 1, 2020. Applications for Spring 2021 are available in December 2021.
  • Repayment for the PLUS generally begins 30 to 60 days after the funds are credited to the student account. Parents who desire the in-school deferment must contact the Direct Loan Servicer at 1-800-848-0979.


Semester Begin and End Months Allocation of Loan Funds
Summer semester May - August Entire eligible amount in Summer
Fall semester August - December Entire eligible amount in Fall
Spring semester January - May Entire eligible amount in Spring
Fall and Spring semesters August - May Entire eligible amount to be evenly divided between eligible terms of enrollment (Fall/Spring)
Summer/Fall/Spring semesters May - May Entire eligible amount to be divided between eligible terms of enrollment (Summer/Fall/Spring)*

*If you apply for a summer/fall/spring loan, the loan will be awarded equally between each semester, given that the loan requested fits in each semesters cost of attendance.  If summer semester cost of attendance, based on enrollment, is less than fall/spring cost of attendance, the loan will be awarded the maximum cost of attendance for the summer and the remaining loan request will be split evenly between fall and spring.

Interest Rates:

7/1/20-06/30/21 Fixed interest rate of 5.30%

7/1/19-06/30/20 Fixed interest rate of 7.079%