If you are considering applying for a PLUS Loan, there are several things you need to know:

If you are considering applying for a PLUS Loan, there are several things you need to know:

Federal Direct Parent PLUS Loan

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Parents of dependent students are able to apply for the Federal Direct Parent PLUS Loan to supplement the student’s award package. PLUS Loans are the financial responsibility of the parents, not the student.

Note – The PLUS application is not usually available until early April of each year. The Forms Online web page will be updated with instructions when the application is available.

  • Note – The PLUS application is not usually available until early April of each year. The Forms Online web page will be updated with instructions when the application is available.
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  • You will need to complete a Federal Direct Parent PLUS Loan application. Your loan application will be electronically submitted to the Office of Financial Aid. Directions for completing the Parent PLUS Loan application can be downloaded from Forms Online.
  • You and your student must complete the Free Application for Federal Student Aid (FAFSA) online if you have not already done so.
  • The Direct Parent PLUS Loan has a fixed interest rate of 6.28% for the 2021-2022 academic year.
  • If you have PLUS Loans from various sources, you can apply to consolidate all your PLUS Loans into a Direct Consolidation Loan using an on-line or a paper application.
  • Approval of a PLUS Loan requires a credit check for the borrower. The Direct Loan Servicing Center will conduct this process.
  • All borrowers must complete a Master Promissory Note.
  • Students must maintain Satisfactory Academic Progress.

General Eligibility Requirements

Borrower is a natural or adoptive parent of a dependent student who has been accepted for enrollment as a degree-seeking student; enrolled at least half-time; is a U.S.More