The Federal Parent PLUS Loan is an alternative loan option for parents of dependent students. The parent or stepparent of a dependent student may apply for this loan. A valid student FAFSA is required to process a Parent PLUS Loan. If student is selected for verification, that process must be completed as well. The parent borrower will be evaluated for credit-worthiness, however the credit review process is generally more lenient than private lender alternative loans. If approved, the Parent PLUS Loan has a fixed 7.9% interest rate.
Loans with the first disbursement occuring after March 1, 2013 may be subject to a higher loan processing fee of approximately 4.20% a result of the Government Sequestration. We will provide the actual increased percentage when it becomes available.
Please read these instructions BEFORE accessing the application.
Click here to access the Parent PLUS Loan Application