The Federal Direct Parent Loan (PLUS) is a loan that a parent can utilize to help pay for a student's educational expenses. This loan is for parents of dependent, undergraduate students who are enrolled at least half time (six credits or more). Parents must be credit-worthy and have no adverse credit history. To apply for a PLUS Loan, logon to www.studentloans.gov
, click on "Request PLUS Loan," and input your information. Do not begin the application process until May 15 of each year. New parent borrowers must also complete a Master Promissory Note (MPN).
Your child is eligible to borrow additional Federal Direct Unsubsidized Loan funds if you are NOT approved for the PLUS Loan.