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Parent PLUS
Quick Links: Direct Parent PLUS Loan MPN (MPN required for first time Direct Loan PLUS borrowers only)
Information on Direct loans for parents
Lender: U.S. Department of Education
Eligibility requirements: Dependent undergraduate student must file a Free Application for Federal Student Aid (FAFSA). Borrower must be a parent or guardian of a dependent undergraduate student enrolled at least half time (6 credits), making satisfactory academic progress. Credit check required, eligibility is not guaranteed.
Current interest rates/fees / loan limits: Direct loans for parents
Process:
- PLUS Request: Required annually; completed at www.studentloans.gov.
- Request includes loan amount options: Maximum (allows awarding to cover direct charges not covered by other aid) and specific loan request amounts.
- If parent borrower is not approved the student may be awarded additional Unsubsidized Stafford loan: $4000 FR/SO $5000 JR/SR.
- Revisions to your initial request may be made by contacting SFS.
- DL PLUS MPN: Completed at www.studentloans.gov. MPN is borrower and dependent student specific. A second MPN will be required if the previous MPN required an endorser or has otherwise become inactive. A parent PLUS MPN is required for each dependent student.
Interest accrual begins: when funds are disbursed
Repayment begins: 60 days after the last scheduled disbursement
Direct Loan Servicer Information
Loan Repayment Information
Last Updated: 10/31/2011
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