Direct PLUS Loans

Federal Direct PLUS Loans are fixed-rate loans provided by the Department of Education to graduate students and parents of dependent undergraduate students. The lender must perform a minimal check of the borrower’s credit history. There is a 10-year repayment schedule and deferment options are available. For graduate students, payments are automatically deferred while in school.  All Undergraduate and Graduate students MUST file a FAFSA in order for their eligibility to be determined.

How to Apply

Parent Borrowers:

  1. Go to studentloans.gov and log in using the parent’s name, SSN, Date of Birth, and FSA ID.
  2. Choose option Request a PLUS Loan (the Request a PLUS Loan processwill determine whether you are approved or denied)
  3. If you are approved, you must choose the option Complete Master Promissory Note (new borrowers and borrowers who use an endorser need to complete the MPN)

Graduate Student Borrowers:

  1. Go to studentloans.gov and log in using the graduate student’s name, SSN, Date of Birth, and FSA ID.
  2. Choose option Request a PLUS Loan (the Request a PLUS Loan process will determine whether you are approved or denied)
  3. If you are approved, you must choose the option Complete Master Promissory Note (new borrowers and borrowers who use an endorser need to complete the MPN)

Entrance Counseling

Entrance counseling is required ONLY for the Grad-PLUS Loan. Parents of undergraduate dependent students do not need to complete entrance counseling.

Interest Rates & Fees

Loans with a first disbursement date on or after July 1, 2017, and before July 1, 2018 will have an interest rate of 7.0%.

The origination fee for a Federal Direct PLUS Loan originated on or after October 1, 2017 is 4.264%. For loans originated on or after October 1, 2016 and before October 1, 2017, the fee was 4.276%.

Parent PLUS Loan Denial

(for parents of undergraduate dependent students)

If a parent is denied a Parent Direct PLUS Loan, the student may be eligible for an additional Unsubsidized Direct Loan up to $4,000 as a freshman and sophomore, and $5,000 as a junior and senior.  Additional Unsubsidized Direct Loan eligibility will be posted to the student’s award letter when we get confirmation of the denial.