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.
To Apply:
Complete the Direct PLUS Loan Application for Parents online at StudentLoans.gov.
Applications are available beginning May 1 for the following academic year.
Important Note: The Parent must sign onto StudentAid.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.
Additional Requirements:
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.
Refund of "Excess Funds" Policy:
Disbursements for Direct PLUS Loans will be deposited in the student’s CSU account. Disbursements will be used to pay current educational charges and minor non-educational charges. PLUS Loan proceeds disbursed in excess of these charges will be refunded to the student as authorized by the parent on the PLUS Loan Request.
The parent borrower can choose to receive directly any excess PLUS loan funds when completing the PLUS Loan Request. The proceeds of the Direct PLUS Loan are first applied to the student’s school account to pay tuition, fees, room, board, and other authorized charges (even if these charges have been previously paid by other funds). If any excess PLUS loan funds exist, paper checks are issued and mailed to the parent borrower approximately 10 days following disbursement notification.
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