Parents of dependent undergraduate students may apply for the credit-based Direct Parent PLUS Loan from the U.S. Department of Education to help cover educational expenses.
To receive a Parent PLUS Loan, you must:
- be the biological or adoptive parent (or stepparent, if included on the FAFSA) of a dependent undergraduate student enrolled at least half-time at an eligible school;
- not have an adverse credit history; and
- meet the general eligibility requirements for federal student aid.
Complete the Direct PLUS Loan Application for Parents online at StudentLoans.gov.
Important Note: The Parent must sign onto StudentLoans.gov using their FSA ID and password. Repaying the Parent PLUS Loan is the legal responsibility of the parent borrower.
Grandparents (unless they have legally adopted the dependent student) and legal guardians are not eligible to receive parent PLUS loans, even if they have had the primary responsibility for raising the student.
Some Private Loan options may be available for parents that are not the biological or adoptive parent, but wish to borrow a loan to support the student’s educational goals.
Before PLUS loan funds are received, the parent will be required to:
- Complete the PLUS Master Promissory Note (MPN) for Parents – A legal document in which you promise to repay your federal parent loan(s) and any accrued interest and fees to your lender.