Federal Parent Loans

The Federal PLUS Loan (also known as the William D. Ford Direct PLUS Loan) may be available to parents of dependent students. The lender is the U.S. Department of Education rather than a bank or other financial institution.

Parent PLUS Loan Video

We'll guide you through applying for a Parent PLUS Loan on studentaid.gov and help you avoid common mistakes.

Who can Apply

To be eligible, you must be: a biological or adoptive parent, regardless of whether or not your info is provided on the FAFSA; or a stepparent (their information must be provided on the FAFSA). Grandparents and other relatives are not eligible for this type of loan.

When to Apply

Just like the FAFSA, you must apply for the parent PLUS loan each year you want to receive it. You may apply as early as April for the upcoming school year (includes fall & spring terms) and September for a spring-only loan.

For the fall semester, it's recommended that you apply no later than the first week of August to allow time for processing and avoid late fees on the bill.

PLUS Loan & the Bill

The PLUS loan will pay toward your student's bill the Monday before the first day of class as long as all requests for information are complete. You will receive email notification when your loan disburses. Also review Parent Loans & the Tuition Bill

  • This loan requires a credit check for the parent borrowing the loan.
  • There is a loan origination fee of 4.228%.
  • Repayment begins 60 days after the loan is fully disbursed. Parents can contact the Direct Loan Servicer after the loan has disbursed to request a deferment for up to 6 months after your student leaves school or drops below half-time. Interest will be capitalized at the end of the deferment period.
  • Parents may borrow up to the full cost of attendance, less other financial aid received.
  • If the parent applicant is not approved for the loan, he or she will have the ability to obtain an endorser or the student can be offered additional Federal Direct Unsubsidized Loan.
  • It is possible for a parent to qualify for a PLUS loan with a bad credit score, so long as they don't have an adverse credit history (i.e., no more than 90 days late on any debt and no defaults, bankruptcies or other adverse action on any Title IV debt).

Fixed Interest Rates

Date of First Disbursement

Interest Rate

7/1/23 - 6/30/24 8.05%
7/1/22 - 6/30/23 7.54%

7/1/21 - 6/30/22


More information about Parent PLUS Loans is available from the Department of Education.

  1. Complete the FAFSA with your student. The Free Application for Federal Student Aid (FAFSA) has to be done every year.
  2. Apply for the PLUS Loan. To apply for the loan, the parent borrower will use their Federal Student ID (FSA ID) to sign in to studentaid.gov. If you do not have an FSA ID, you will be required to create one. Do not use your student's FSA ID. After the parent signs in, click on "Apply for a PLUS Loan." We highly recommend you calculate how much aid you need to apply for and only borrow what you need.
  3. Authorize a Credit Check. The parent will be asked to authorize a credit check when applying for the PLUS Loan. The Office of Financial Aid will receive confirmation of the credit decision along with the amount requested. If the credit is approved, you will receive a notification from our office and the loan will appear as accepted in the student portal. If the loan request is more than the parent is eligible for, it will be reduced accordingly.
  4. Complete a Master Promissory Note (MPN). The parent will be mailed a PLUS loan disclosure statement from the Federal Direct Loan Servicer which will verify the loan has been approved.

Important Note: Loans must be processed by our office by the last day the student is enrolled in at least 6 credit hours. 

Use an Endorser

If credit is denied, the parent will have the ability to obtain an endorser. The endorser will need the Direct PLUS Endorser Code or Award Identification Number to connect the endorsement to the denied PLUS loan. You can get an endorser code or award ID from the denial notice email, or by logging in to your account and viewing your completed Direct PLUS Loan Request. We highly recommend using an electronic endorser as it is the fastest way to complete this request. If you choose to complete your request with a paper endorser, you must notify our office when the endorser is approved, or your loan may be delayed.

If the parent does not have an endorser, the student can contact our office to request an additional unsubsidized Federal Direct Loan.

Submit an Appeal

You can appeal a credit decision to the Department of Education with proof the credit information used was incorrect or has been corrected or extenuating circumstances relating to the credit history. You will be contacted by the Federal Loan Origination Center within three business days to discuss your appeal. If you do not receive a call, you may contact them at 1-800-557-7394.

Complete PLUS Credit Counseling

If you qualify for a Direct PLUS Loan after obtaining an endorser or documenting extenuating circumstances, you will be required to complete PLUS Credit Counseling online.

Parent PLUS loans are limited to pay toward tuition, fees and on-campus room and board charges only unless you choose to authorize aid to pay all charges. You will be given the option to authorize the loan to pay toward all charges when you are completing the PLUS Loan application. If you do not authorize the loan to pay additional charges, you may receive a refund - even if you still owe the university money. To change your authorization selection complete the Parent PLUS – Change Refund Options form.

You are provided an option for how remaining loan amounts will be refunded when you are completing the PLUS Loan application. If you elect for the student to receive the refund, it will be sent to their direct deposit approximately three days prior to the beginning of the semester. If you elect to receive the refund directly, a check will be mailed to you (this process could take up to two weeks). If you wish to change your refund selection, complete the Parent PLUS – Change Refund Options form.

  • View our PLUS Loan FAQ's
  • Use your (parent borrower) FSA ID when applying, not your student's
  • Select the Parent PLUS Loan application and not the Graduate PLUS version
  • Account for the loan origination fee in your requested loan amount
  • Complete a PLUS loan application each year you wish to receive the loan, just like the FAFSA
  • The PLUS Loan proceeds are applied to the student’s bill the Monday before the start of classes. Any remaining proceeds will be sent to the parent via paper check unless the parent authorizes the funds to be released to the student’s bank account via direct deposit, which is much faster.
  • If parents think they might be denied a Federal PLUS Loan or have other exceptional circumstances preventing them from borrowing a loan, we recommend contacting our office before applying.
  • Borrowing a Federal PLUS Loan will be regarded as parental support on in-state residency petitions.

Private Parent Loans

View FastChoice to explore some of your private parent loan options.