Loans

Federal Direct PLUS Loans (Dependent Students Only)

PLUS loans are available for parents of dependent students to help cover a student’s Cost of Attendance.  The maximum annual amount allowed for a PLUS loan is Cost of Attendance less other financial aid.  Interest rate is a fixed rate of 7.90% and is charged from the time funds are disbursed to the time the loan is paid in full.

Steps for Applying for a Parent PLUS Direct Loan

Eligibility for the PLUS loan is based on the following criteria:

• Student submitted Free Application for Federal Student Aid available at  www.fafsa.ed.gov (FAFSA)
• Student is a dependent student enrolled at least half time per semester
• Parent must pass U.S. Department of Education credit check
• Parent must complete the Parent PLUS Application, available at www.studentloans.gov

NOTE:  All first-time borrowers must complete a Master Promissory Note (MPN) which is available at www.studentloans.gov