Designed for undergraduates whose parents are helping pay for college, the Federal Direct PLUS Loan can be an attractive option.

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How Much?

With the PLUS Loan, you can borrow for each dependent student who’s enrolled in college at least half-time. The parent PLUS loan can finance up to the full cost of your child’s education each academic year, minus grants and other financial aid received.

How Does it Work?

  • Parents planning to obtain a PLUS loan should apply at least three weeks before the semester payment due date.
  • Parent PLUS loans are subject to a credit check. You must obtain pre-approval. Adverse credit history can affect eligibility.
  • Students and their parents must be U.S. citizens or eligible non-citizens.

What You Need

You’ll need an FSA ID, date of birth and your Social Security number. Visit the Federal Student Aid website and complete the following documents:

  • Federal Direct PLUS Loan for Parents Pre-Approval
  • Parent PLUS Loan Master Promissory Note

Please note: For each dependent, you’ll need to complete a separate PLUS Pre-Approval and Master Promissory Note.