The Federal Direct PLUS Loan is designated to provide long-term competitive rate financing for parents.
You can borrow a Federal Direct PLUS Loan up to your student's cost of attendance minus any financial assistance the student was awarded for the academic year. Borrowers must be creditworthy. A credit check will be performed by the Department of Education.
Interest and Repayment
The Federal Direct PLUS Loan interest rate is fixed at 9.08% for the 2024-2025 school year. PLUS Loan borrowers must begin repayment of principal and interest 60 days after the final loan disbursement of the academic year. An origination fee will be deducted from the total loan, proportionately, each time a loan disbursement is made. For loans disbursed on or after October 1, 2020 and before October 1, 2023, the origination fee is 4.228%. The origination fee may be different after October 1, 2023.
Since 2008, parents have the option of deferring payment (interest still accrues). You can read about that option .
Apply for a PLUS Loan
The parent borrower will be required to use their U.S. Department of Education issued parent FSA ID to complete the online application. Parents who do not have an FSA ID or cannot recall their FSA ID can go to create an FSA ID.
- Log in at the using the parent borrower's information
- Where you see "I鈥檓 a Parent of an Undergraduate Student", click the Log In To Start button
It takes 48 hours for the request to be sent to our office. We will process the PLUS Loan request as soon as possible.
Additional Requirements
A first-time PLUS Loan borrower must also complete a PLUS Master Promissory Note (MPN). To complete the PLUS MPN:
- Go to the
- Where you see "I鈥檓 a Parent of an Undergraduate Student", click the Log In To Start button
Approved PLUS Loan
If a parent is approved to borrow the Parent PLUS Loan, we will notify the student that their revised financial aid offer is available on the Financial Aid Student Portal.
Denied PLUS Loan
If you are denied the Parent PLUS Loan, our Loan Counselor will e-mail the parent with options.
National Student Loan Data System (NSLDS)
All federal educational loan information is sent to the National Student Loan Data System (NSLDS). NSLDS is a national database for grants and loans awarded under Title IV of the Higher Education Act (HEA) of 1965, as amended. NSLDS provides a convenient, central location for borrowers to track federal educational loans from approval to repayment. NSLDS can only be accessed by authorized personnel at 瓜子TV as well as other authorized agencies. To view your federal educational loan information from NSLDS, login at .