Federal Direct PLUS Loans
The Direct Parent PLUS Loan is a federal loan program created to allow parents the opportunity to take out a loan in their name for their students. You can learn more about how to apply for a PLUS Loan at Student Financial Services
- Direct PLUS loans are credit-based loan in the parent's name on behalf of their student. ONLY parents of dependent undergraduate students may apply.
- Parent's are credit approved for this loan based on having no adverse credit history. If parent is denied, he/she may apply with an endorser (co-signer).
- The amount borrowed is not to excess the student's Cost of Attendance minus financial aid resources. The parent must reapply each year they want the loan.
- The student must also maintain Satisfactory Academic Progress (SAP), and at least half-time enrollment.
Note: If you were selected for verification, this aid will not credit to your semester bill until the Verification Process is completed.
What if My Parent Cannot Get a PLUS Loan?
The federal government allows a student to receive an additional amount of Unsubsidized Stafford Loan money if their parent is unable to get a PLUS Loan. Freshmen and sophomores may receive a maximum of $4,000 and juniors and senior may receive up to a maximum of $5,000.
The following are reasons a parent cannot get a PLUS Loan:
- Parent has adverse credit history and is not able to find an endorser.
- The student's parent is incarcerated.
- The student's parent's whereabouts are unknown.
- The student's parent is precluded by a bankruptcy court from future borrowing.
- The parent of a dependent student is not a U.S. citizen or permanent resident, or is not able to provide evidence from the U.S. Bureau of Citizenship and Immigration Services that he or she is in the U.S. for other than a temporary purpose with the intention of becoming a citizen or permanent resident.
- The student's family income is limited to public assistance or disability benefits and the school has documented that the parent would not be able to repay the PLUS Loan.If your parent cannot get a PLUS Loan for any of these reasons, please contact the Student Financial Aid Office about providing proper documentation.