Federal Direct PLUS Loans (Graduate & Parent)

Federal Direct PLUS Loan (Parent PLUS Loan)

Parents of dependent undergraduates may borrow through the Direct PLUS Loan Program if eligible. The amount a parent may borrow is the student's Cost of Attendance minus other financial aid to be received during the loan period.

The parent must complete the Parent PLUS loan application and Master Promissory Note (MPN) at https://studentaid.gov/ once the award has been offered in PAWS.  A credit check is required when applying for this loan. 

Parents must begin repaying both principal and interest within sixty days after the loan is disbursed. The lender charges interest on the loan from the date the first disbursement is made until the loan is paid in full.  An origination fee is charged by the federal government on the total amount of the loan. For the most current interest rates and origination fees, please visit https://studentaid.gov/.

Federal Direct Graduate PLUS Loan

Direct Graduate PLUS Loans are federal loans for graduate students. With a Direct Graduate PLUS Loan, students may borrow up to the full Cost of  Attendance, less other financial aid received during the loan period including Federal Direct Unsubsidized Loans.  

The student must complete the Graduate PLUS loan application and Master Promissory Note (MPN) at https://studentaid.gov/once the loan has been offered in PAWS.  A credit check is required when applying for this loan. 

Students must begin repaying both principal and interest within sixty days after the loan is disbursed. The lender charges interest on the loan from the date the first disbursement is made until the loan is paid in full.  An origination fee is charged by the federal government on the total amount of the loan. For the most current interest rates and origination fees, please visit https://studentaid.gov/.