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Federal Direct PLUS Loan for Parents


The Federal Direct PLUS Loan for Parents is a credit-based loan that parents may borrow on behalf of their dependent undergraduate students. Students must be enrolled at least half-time in a degree program to utilize this loan option.

Apply For a Federal Parent PLUS loan: to apply, the parent will Log In using their own FSA ID. If the parent applying does not yet have one, they can create an FSA ID online.

Interest Rate and Fees

The interest rate for the 2022-2023 Parent PLUS Loan is fixed at 7.54%. Federal Parent PLUS loans are subject to a 4.228% loan origination fee at disbursement.



Repayment on the PLUS loan begins within 60 days of the final disbursement, unless the option to postpone repayment until six months following the student's graduation is selected.

Maximum Loan Amount

The maximum amount a parent can borrow in a PLUS loan is the total cost of attendance (comprised of tuition and fees, housing and food or living costs, books and personal expense allowance) minus all other financial aid.

If you would like to borrow the maximum allowable amount, contact the Office of Financial Aid for assistance in determining this amount or select the option for maximum on the PLUS application and the Office of Financial Aid will process your loan for the maximum allowable amount.

For assistance in determining the amount needed to meet remaining charges, after financial aid, contact the Office of Student Accounts.

Application Tips

  • Apply for the total amount needed for the entire academic year
    • 50% of the loan will be disbursed in August and 50% in January
    • Repayment would begin after January disbursement
  • Remember to account for a 4.228% loan origination fee in determining your loan amount
  • Have your and your student's Social Security numbers available when you are applying