Loans for Parents

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Federal Loans for Parents (Plus)

The Parent Loan for Undergraduate Students (PLUS) lets parents borrow money to cover any costs not already covered by other sources of financial aid, up to the full cost of attendance.

Complete the Federal Parent PLUS Loan application on your lender's web site.

If you have not previously completed a Master Promissory Note (MPN), you will be requested to do so if you are credit approved. A MPN can be used to make one or more loans for up to 10 years. A parent who has previously borrowed the Federal PLUS Loan will have an MPN on file and can simply indicate on the signed award letter the amount for us to certify.

Note: A denial of the Federal Parent PLUS Loan qualifies a student for additional Stafford Loan funds ($4,000 for first- and second-year students; $5,000 for third- through fifth-year students). The denial must be applied for and received every year along with a request for the additional Stafford funds before that portion can be certified.

Repayment begins 60 days after the final loan disbursement, and interest begins to accumulate at the time the first disbursement is made. The maximum repayment term for the Federal PLUS is 10 years.

Visit PLUS Loans on the Federal Student Aid web site to learn more.

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