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Federal Parent PLUS Loans

Federal Parent PLUS Loans are available for parents of dependent undergraduate students who are enrolled at least half time and are meeting satisfactory academic progress requirements. The parent must be the biological, adoptive or stepparent of the student for whom they are borrowing. Parents may borrow up to the cost of attendance minus any other financial aid the student will receive. The FAFSA is required. PLUS loans are subject to a credit check.

Interest begins to accumulate on the date of the first loan disbursement. The repayment period begins on the date the loan is fully disbursed. The first payment is due within 60 days after the final loan disbursement. There are deferment options that will allow you to defer the loan while the student is enrolled at least half time. You will receive further information about repayment and deferment options from the Direct Loan Servicer. Borrowers who have no outstanding PLUS Loan balance and who receive funds for the first time after July 1, 1994, will have a rate of interest not to exceed 9 percent on new Federal Parent Loans. Get information about current interest rates and origination fees.

Steps to Apply

To accept the Federal Parent PLUS Loan your PARENT must complete the steps listed below:

1. Log in on the Federal Student Aid website using parent information (parent FSA ID and password).

2. Select ‘Apply for a Parent PLUS loan’ under ‘Parent.’

3. Select ‘Direct PLUS Loan Application for Parents.’

4. Provide requested information.

5. When prompted for award year, select ‘2023-2024.’

6. If approved, select ‘Complete a Master Promissory Note for a Parent PLUS Loan.’

7. Provide requested information.

PLUS Credit Counseling

PLUS credit counseling is available on the Federal Student Aid website. PLUS credit counseling may be completed voluntarily at any time. PLUS credit counseling is REQUIRED if the U.S. Department of Education has informed you that you have an adverse credit history and

a. You have obtained an endorser.


b. You documented to the satisfaction of the U.S. Department of Education that there are extenuating circumstances related to your adverse credit history.