The Direct Parent Loan for undergraduate students is a federal loan that must be repaid.

The Direct Parent Loan for Undergraduate Students (PLUS) is a credit-based, fixed rate loan that enables parents to borrow funds to meet their children’s educational expenses. Parents may apply with an endorser. The Direct PLUS Loan is only included in your financial aid offer after your parent has applied and been approved for the loan.

Helpful Tip: Consider a Monthly Payment Plan prior to borrowing a loan. 


Students are required to submit  the Free Application for Federal Student Aid (FAFSA), both student and parent borrower must meet the eligibility requirements for federal student aid, and the parent borrower must pass the credit check. If the parent does not pass the credit check, three options are available: Endorse a PLUS Loan, Appeal a Credit Decision or additional unsubsidized loan for the student. The maximum loan amount you may borrow is your cost of attendance minus any other financial assistance you receive. 

Interest and Fees

The interest rate for Direct PLUS Loans disbursed between July 1, 2023 and June 30, 2024 is fixed at 8.05%, with a fee of 4.228% deducted from the loan amount at disbursement. Parents are responsible for paying the interest that accumulates after the loan is disbursed. The interest can be paid while in school or the accrued interest will be capitalized (added to the principal balance). For more information, visit Federal Student Aid


Direct PLUS Loan payments begin after the loan is fully deferred; however,the parent borrower may request an in-school deferment while the student is enrolled at least half-time. The loan offers multiple repayment plan options.

Requirements for Parent Borrowers using their FSA ID