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Federal Direct Parent

Federal Direct Parent

Parents of dependent undergraduate students and graduate students may apply for a Federal Direct PLUS Loan. The Federal PLUS Loan requires an additional application and the borrower must pass a credit check. A graduate student Federal PLUS Loan applicant must submit the Free Application for Federal Student Aid (FAFSA) for the applicable aid year. Filing of the Free Application for Federal Student Aid (FAFSA) is required before applying for a plus or graduate plus loan. Undergraduate dependent students are encouraged to submit the FAFSA by the March 10 Priority Application Receipt Deadline each year to maximize consideration for financial aid.

Borrowing Limits

The Federal Direct PLUS Loan maximum amount is the student's cost of attendance minus any financial aid.


After a parent or graduate student borrower receives the full disbursement of the Federal Direct PLUS Loan for the school year, the repayment period begins. You will make your first payment within 60 days after the entire PLUS Loan is disbursed for a school year.

Repayment for a graduate PLUS loan borrower is deferred while you are enrolled at least half-time.


Interest Rates

  • For Federal Direct PLUS Loans disbursed on or after July 1, 2013 rates are based on prime plus a percentage value.
  • Interest is charged on a PLUS Loan from the date of the first disbursement until the loan is paid in full.
  • Borrowers pay an origination fee of 4% of the loan assessed by the Direct Loan servicer

Master Promissory Note and Entrance Counseling


  • For a parent borrower, the student must be a dependent student enrolled at least half time in a program leading to a degree or eligible certificate program.
  • The parent borrower must be the biological or adoptive parent, or step-parent of the dependent undergraduate student for whom the loan is being borrowed.
  • The parent borrower and dependent student or graduate student must not be in default on a federal student loan and not owe a refund on a federal education grant.
  • Borrower and/or student must be a United States citizen or eligible noncitizen.
  • Borrower must meet the lender's credit requirements.
  • The student must meet general federal student financial aid eligibility standards and be enrolled at least half-time
    (undergraduate students: 6 semester hours / graduate students: 4 semester hours).
  • If a parent is denied a PLUS loan due to adverse credit, the student will become eligible for a Federal Direct Unsubsidized
    Student loan.  Amounts vary depending on the student's academic level.  Contact the Office of Scholarships and Financial Aid
    if you have been denied a PLUS loan.
  • Federal Direct PLUS Loans must be processed prior to the end of the semester for which the student was enrolled. Therefore,
    parents or graduate students are encouraged to complete the application process well in advance of the end of the semester.

Federal Direct PLUS Loan Applications

Last updated: 09/20/2018