Federal Direct PLUS Loans
The Parent Loan for Undergraduate Students or PLUS loans are for parents of dependent students to assist families pay for their child’s education. Parents are the borrowers under this loan program and are responsible for all interest charges and repayment of this loan. The Financial Aid office will review the results of the student’s Free Application for Federal Student Aid (FAFSA) and determine the amount the parent can borrow. We strongly encourage parents to apply for a PLUS Loan. The loan is based on credit eligibility. An approved credit decision is valid for 180 days prior to the first disbursement. For this reason, we recomment initiating your credit check aftr April 15th annually. A credit denial will alert the Financial Aid Office of other types of aid to assist families with their direct cost to attend. In order to apply, a parent must complete a PLUS Request. First time Parent PLUS borrowers must submit a PLUS Master Promissory Note (MPN). You can complete both the MPN and Direct PLUS Loan Request at the studentaid.gov website.
Graduate and professional degree students can borrow a Graduate Direct PLUS Loan to help cover education expenses. The Financial Aid office will review the results of your Free Application for Federal Student Aid (FAFSA) and determine the amount you can borrow. The terms and conditions applicable to PLUS Loans for parents also apply to Graduate PLUS Loan borrowers.