Loans for Parents
Parent PLUS Loan
Federal Parent PLUS loans are non-need based loans that help parents and guardians borrow up to the cost of attendance for their undergraduate dependent children.
- Eligibility for the PLUS Loan requires both the student and the parent to be U.S. citizens or eligible non-citizens.
- A modest credit check is required for the parent or guardian who is borrowing the loan.
- Interest rate fixed at 7.9%
To borrow the Parent PLUS loan, please follow the steps below.
- Review your Financial Aid Award Letter to determine the amount of Parent PLUS loan eligibility.
- Complete and return the 2013-14 Parent PLUS Loan Borrower Information Sheet that you received from the Financial Aid Office. If you do not have the form, a blank one is available here.
- Complete the Parent PLUS Loan Master Promissory Note (MPN) on the Direct Loan website.
You will use your FAFSA PIN to electronically sign the MPN.