Parent PLUS Loan

The Parent Loan for Undergraduate Students (PLUS) is available for eligible parents to borrow on behalf of their dependent, undergraduate student. The student must be enrolled at least half-time (six credits) in an eligible degree-seeking program.

The PLUS Loan is a credit-based loan. This means that even though a student may be awarded a PLUS Loan as part of their award package, the borrower must have his or her credit approved. Parent PLUS Loan credit decisions are based on adverse credit.

Application Process

If your parent would like to apply for the Parent PLUS Loan, they may do so by navigating to https://studentaid.gov/.

Note: Your parent will be prompted to create an FSA ID if they do not already have one. Learn more about FSA IDs.

Highlights

The PLUS Loan is not based upon financial need. However, students and parents are encouraged to complete the FAFSA to help expedite loan processing and ensure the student is considered for all other forms of aid for which they may be eligible. The Parent PLUS Loan is borrowed and repaid by the parent borrower, not the student. Repayment begins within 60 days of the loan disbursement. Visit the U.S. Department of Education’s website for more information on the Parent PLUS Loan.

Lower interest rate than most private educational loans.
Fixed interest for the life of the loan. View the current interest rate.
Possible program incentives to lower the rate.
Eligibility based on the review of “adverse credit” rather than “credit scoring.”
Lack of credit history or insufficient credit history is not considered.
Amount of eligibility determined using the following formula
- Cost of Attendance (COA) – All Other Aid = PLUS Loan Eligibility
Can be consolidated with other federal loans upon graduation.
Effective as of July 1, 2026, under the One Big Beautiful Bill Act, Parent PLUS loans for non-grandfathered students are limited up to $20,000 per a year and $65,000 total over the course of the student’s undergraduate education.

For more information on the Parent PLUS Loan, visit https://studentaid.gov/ and complete PLUS Counseling (you must login using your FSA ID).

Loan Eligibility

Students must be enrolled at least a half-time to receive the Parent PLUS loan. Visit Financial Aid Enrollment Requirements for detailed credit hour requirements required for half-time enrollment. Additionally, loan borrowers must notify the Office of Advising if they wish to register for any courses not required in their degree plan, as this can adversely impact their federal aid. Active participation in courses starting in the first week and continuing through the end of the class is required to maintain eligibility for a disbursed Parent PLUS loan.

If a student intends to drop courses after the loan has been disbursed, contact Student Financial Aid before making any final decision or submitting paperwork. A representative will review how dropping courses will affect your loan eligibility.

The total loan amount a student is eligible for is based on the following formula:

Cost of Attendance (COA) – Aid (scholarships, etc.) = Total Loan Eligibility

The following formula determines a student’s eligibility for a Parent PLUS Loan:

COA – Student Aid Index (SAI) – Aid – Stafford Loans = Parent PLUS Loan Eligibility

Applying for Aid

Students are encouraged to begin the financial aid application process in conjunction with the required admissions application activity. Although a financial aid award cannot be made until a student is accepted, all necessary paperwork will be on file to expedite the awarding process upon acceptance. Students interested in borrowing a Parent PLUS Loan should complete the Free Application for Federal Student Aid (FAFSA) as soon after January 1 as possible or when the previous year’s taxes are completed. Student Financial Aid suggests submitting the FAFSA by March 15 to ensure timely processing and arrival of funds for the fall semester.

The FAFSA may be submitted one of two ways. The student may fill out the paper application or complete the FAFSA online. Submitting the FAFSA online greatly reduces the processing time of the application.

Early submission of applications helps to ensure the arrival of funds by the final payment deadline. It also allows for necessary information to be available when Student Financial Aid begins the awarding process.

What is Adverse Credit?

Unlike private alternative loans, Parent PLUS Loans are not based on credit score. This difference should make the loan more easily obtainable for those with little or no credit history.

Adverse credit is defined to mean as of the date of the credit report, the applicant:

Is 90 or more days delinquent on any debt (including unpaid collection accounts with a balance greater than $0 and charge-offs); or
Has been the subject of a default determination, bankruptcy discharge, foreclosure, repossession, tax lien, wage garnishment, or write-off of debt during the five years preceding the date of the credit report.

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