Federal Direct Parent PLUS Loan for Undergraduate Students
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- Federal Direct Parent PLUS Loan for Undergraduate Students
*Important Changes to the Loan Program Read More
Direct Loan Parent PLUS Loans for undergraduate Students are available to parents of dependent students to meet educational costs. Through the PLUS Loan Program, parents may borrow the difference between a student's cost of attendance less any financial aid they are receiving.
Eligibility for a PLUS loan is based on credit-worthiness of the parent borrower. The interest rate is fixed and will not exceed 9%. The repayment period begins on the date of the last disbursement of the loan during the academic year. Unless you chose the option to defer payments.
Parents interested in applying must complete a master promissory note as well as the credit application. It is a two step process.
PLUS loan proceeds are sent in two disbursements (example: Fall semester & Spring semester) and are delivered through Electronic Funds Transfer (EFT) credited directly to the student's account in the Student Business Services Office, Ward Hall 1st Floor. If loan funds are disbursed by check you will be notified by the Student Business Services Office to endorse the check and then credit the funds to the student's account.
PLEASE NOTE: When selecting the "requested loan amount", keep in mind that there is a 3% origination deducted per disbursement.
For information on "Applying for your Federal Parent PLUS Loan" click on Applying for Federal Parent PLUS Loan.
