The Federal Direct Parent PLUS Loan is offered to qualified parents of dependent undergraduate students with financial aid eligibility. Read additional information about the Parent PLUS.
- Three term maximum: Limited to financial aid eligibility
- Interest rate: Fixed at 9.07% (for loans first disbursed on or after July 1, 2026, and before July 1, 2027)
- Interest rate: Fixed at 8.94% (for loans first disbursed on or after July 1, 2025, and before July 1, 2026)
- Net fee per disbursement: 4.228% (for loans first disbursed on or after October 1, 2020, and before October 1, 2024)
- Repayment begins: 60 days after loan is fully disbursed (unless deferred)
- Apply Online: Required
- Master Promissory Note (MPN): Required
Apply for a PLUS Loan:
- Go to StudentAid.gov (secure site)
- Log in using parent FSA ID and password and apply
- If you are a first-time borrower or if you have had an endorser on a previous PLUS loan, complete a Master Promissory Note (MPN)
If Your PLUS Loan Request Is Denied
There are three possible courses of action:
- Appeal the credit decision
- Call Direct Loans at 1-800-557-7394
- Appeal online at StudentAid.gov
- Pursue the PLUS with an endorser (cosigner)
- Complete online at StudentAid.gov
- Student requests additional unsubsidized loan in lieu of the PLUS
- The parent and student complete the Ineligible Parent Borrower for Direct PLUS Loan form.
Note: the maximum amount of additional unsubsidized loans is up to $4,000 per year for students with fewer than 90 earned credit hours, and up to $5,000 per year for students with 90 or more earned credit hours.