Glossary

Federal Parent PLUS Loan

This is the amount of Parent Loan for Undergraduate Students (PLUS) that the applicant’s parents are eligible to borrow. A parent may borrow less than the listed eligibility. The Parent Loan for Undergraduate Students (PLUS) is a federal loan for parents that must be repaid. For current Direct Loan interest rates and fees, please visit Federal Student Aid - PLUS Loans. Interest begins accruing as soon as the first disbursement is made. Repayment begins 60 days after the final disbursement for the academic year is made, but parents may defer payment while the student is enrolled at least half time by contacting their federal loan servicer found through Federal Loan Servicer. Only one parent’s name is permitted on the promissory note and the loan record. However, both parents can borrow separate amounts under their own names. A parent borrower must pass a credit check for the loan to be approved. In certain cases, a parent may be asked to provide a co-signer to the loan.

Your parent may apply for this loan at StudentAid.gov. For important information regarding the loan application process, please visit the PLUS Loan tab of My Aid Status.

Please note that some parents may not qualify for this loan due to adverse credit history. If your parent applies for the Parent PLUS Loan and is denied, they can do one of the following:

• Appeal the credit decision or call the Student Loan Support Center at (800) 557-7394.
• Seek a credit-worthy endorser (co-signor) by having that endorser log into StudentAid.gov and choose "Complete an Endorser Addendum", or by calling the Student Loan Support Center.
• Agree not to seek an endorser/appeal and the student can borrow an additional Unsubsidized Direct Stafford Loan. The student may submit the Request for Additional Unsubsidized Loan form found in the Forms section of our website.