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, Parent PLUS Loans disbursed after July 1, 2013 have a fixed 6.41% interest rate.
Please read these instructions BEFORE accessing the application.
Click here to access the Parent PLUS Loan Application
4.204% Loan Origination Fee
Student must be enrolled at least half-time in a degree-granting program. (6 credit hours for undergraduate students). Parent borrower must complete and sign a Master Promissory Note.
NEW FOR FALL 2013 IF STUDENT ENROLLS less than FULL time (less than 12 credit hours for undergraduate students, less than 9 credit hours for graduate students), the cost of attendance will be adjusted based on actual enrollment after the 4th day of class. This adjustment may reduce the amount of aid that student is eligible to receive and may change the account balance due or the amount of refund. For more information on what this could mean for you, visit the Cost of Attendance page on the Financial Aid website.