PLUS Loan

Eligibility

Student must complete FAFSA
Dependent undergraduate students enrolled at least half time
Contingent upon credit approval
Must meet citizenship criteria
Must complete a Master Promissory Note and Entrance Counseling for parent borrowers

Interest Rates

Fixed interest rate of 5.3 percent for loans first disbursed on or after July 1, 2020, and before July 1, 2021
Fixed interest rate of 6.28 percent for loans first disbursed on or after July 1, 2021, and before July 1, 2022
Interest accrues as soon as the first disbursement is made.
For more information on interest rates, visit the Department of Education's website Federal Student Aid.

Loan Fees

First Disbursement Date	Loan Fee
On or after Oct. 1, 2020, and before Oct. 1, 2021	4.228 percent
On or after Oct. 1, 2021, and before Oct. 1, 2022	4.228 percent

Loan Limits

Maximum amount is cost of attendance minus any other financial aid the student receives; no minimum award amount

Repayment

Please visit the Department of Education's website Studentloans.gov for detailed information or contact the lender.

Apply for a Federal Direct Parent Loan for Undergraduate Students (PLUS)

Online PLUS Request Process available through the Department of Education. Parents will need their FAFSA PIN to log in to the Department of Education's secure site.