The Federal Direct Parent Loan for Undergraduate Student (PLUS) is a loan for the natural parent, adoptive parent, or legal guardian of a dependent undergraduate student. In certain circumstances, a stepparent may be eligible to borrow.

• Once you have applied for financial aid (refer to How to Apply), your parent will be sent a Direct PLUS Loan Credit Authorization to complete, or click here for the PDF. The parent borrower must have a good credit history in order to be able to borrow a PLUS Loan. If you have questions about your Direct PLUS Loan credit history, contact the Loan Origination Center at             1-800-557-7394      .
• If the parent borrower does not pass the credit check, the loan may be denied outright or the parent may be offered the option of obtaining a creditworthy endorser.
• The PLUS Loan interest rate is a variable rate. The interest rate is adjusted each July 1. You can find out the current interest rate on Direct PLUS Loans by calling            1-800-848-0979      .
• There is no grace period on a Parent PLUS Loan, so interest begins to accumulate at the time the first disbursement is made. Your parent must begin repaying both principal and interest while you are in school.

Federal Graduate PLUS Loan is now available for graduate students to borrow for educational expenses.

• A student can apply for the loan in their own name as long as they are enrolled in an approved graduate program at an accredited school.
• The process is primarily the same as for a Parent PLUS Loan, however the student is NOT required to enter repayment immediately if they request a deferment.