Tips for Parent PLUS Loans
- Calculate the total cost and consider options that may be needed to cover any remaining cost. Options can include the Tuition Payment Plan, a Parent PLUS loan and Alternative loans. Review your options to determine what is best for your family.
- The Parent PLUS Loan is borrowed only by a parent for their student's educational expenses.
- A Parent PLUS Loan is not listed on the award offer for the student to accept.
- Parents wishing to borrow the Parent PLUS Loan must be U.S. citizens, and may be the biological, adoptive, or stepparent of the dependent student.
- The Parent PLUS loan borrower does not have to be the same parent used on the FAFSA.
How to Apply for a Parent PLUS Loan
- A parent will log in using their own Federal Student (FSA) ID to begin the Federal Parent PLUS Loan process.
- Once logged in, ensure that the parent's name is displayed at the top right of the screen.
- Select "Apply for a Direct PLUS Loan" and choose "Direct PLUS Loan Application for Parents."
- Fill out and submit the application. This will initiate a credit check, which is valid for 90 days.
- Calculate and input the specific amount you will need to borrow. To determine the amount needed to cover total billed costs, families can use the Estimated Remaining Cost Tool.
- If the credit check is approved, the parent borrower must sign a PLUS Master Promissory Note (MPN) if an active PLUS MPN is not on file for the student.
- If the credit check is denied, review other options.