Financial Aid Information for Parents

In addition to scholarships, grants and student loans there are several options for parents to assist with funding the gap of their student's Cost of Attendance (COA). Below you will find useful information regarding the Parent PLUS Loan process. 

Frequently Asked Questions about PLUS Loans

What is the Parent PLUS Loan for undergraduate students (PLUS)?

PLUS loans are federal loans that parents of dependent undergraduate students can use to help pay education expenses. The U.S. Department of Education makes Direct PLUS Loans available to eligible borrowers through schools participating in the Direct Loan Program.

Is it required that the parent take a PLUS loan; if not, what are the options?

The PLUS loan is not required. Other options such as an alternative student loan (through a lender of your choice) or a payment plan are also options.

Who can apply for a PLUS loan?

Biological parents or adoptive parents may apply for the PLUS loan. Additionally, step-parents who are listed on the student's FAFSA may also apply.

How do we apply?

There are several steps for the application process. To begin, the Parent PLUS Loan must be accepted on the student's Web for Student Account. Then, the parent must apply online at by completing the PLUS Application and (if credit is approved) the Master Promissory Note (MPN).

When do I begin repaying?

Your Direct PLUS Loan enters repayment once your loan is fully disbursed (paid out). Parents have the option to request a deferment when applying for the loan or after the application is submitted by contacting their loan servicer. The deferment options are offered:

  • while you or your child are enrolled at least half-time and
  • for an additional six months after your child ceases to be enrolled at least half-time.

If your loan is deferred, interest will accrue on the loan during the deferment. You may choose to pay the accrued interest or allow the interest to capitalize when the deferment period ends. Your loan servicer will notify you when your first payment is due. 

How much should I borrow?

Parents can borrow up to the students Cost of Attendance minus all other aid. However; we suggest borrowing the maximum amount as requested by the school.

More Information about Parent PLUS Loans

PLUS loans are federal loans that parents of dependent undergraduate students can use to help pay education expenses not covered by other financial aid.  If the loan application is credit-denied, your student can be offered an increase to their unsubsidized student loan (up to $4,000).

Here’s a quick overview of Direct PLUS Loans: