Before applying for parent or private education loans, you are encouraged to visit
our "Need More Money?" webpage.
The Federal Parent PLUS Loan is an alternative loan option for parents or stepparents
of dependent students. Although the Department of Education has not finalized the interest rates for 2023-24,
they have announced that they expect that the following rates will be approved:
- 8.05% Fixed Interest Rate
- 4.228% Origination Fee
Federal Direct Parent PLUS Loan Eligibility
- Student must be enrolled at least half-time in a degree-granting program
- A valid student FAFSA is required
- If the student is selected for verification, that process must be complete
- Student must be meeting Satisfactory Academic Progress
- Easiest alternative loan to qualify for
- Parent may borrow up to the cost of attendance, less any other offered aid
- If the Parent PLUS Loan is denied, the student may be offered up to $5000 in additional
unsubsidized loan. Visit our Need More Money? webpage for details
- Parent may select to have repayment deferred while student is in school
- Funds are sent directly to the school
To Apply for the Parent PLUS Loan
PARENT PLUS LOAN APPLICATIONS FOR SUMMER 2023 ARE AVAILABLE NOW.
PARENT PLUS LOAN APPLICATIONS FOR FALL 2023 WILL BE AVAILABLE ON JUNE 1, 2023.
Please read these instructions before accessing the application.
- If the parent applying for the Parent PLUS Loan does not already have an FSA ID, please click here and follow the instructions to create an account. Please write the FSA ID information
down and save it in a safe place.
- The parent borrower must LOG IN at www.studentaid.gov. Select the "Parent" tab.
- Select "Apply for a Parent PLUS Loan".
- If loan is approved, the parent borrower must complete a Master Promissory Note while logged into www.studentaid.gov.