Parent PLUS loans are only available to the parent(s) of a dependent undergraduate students enrolled at least half-time and who meet all the eligibility requirements for federal student aid programs. Parents who intend to apply for a Parent PLUS loan, will need to complete the PLUS request process and sign a PLUS MPN on the Federal Student Aid website. Please see below for details on completing the MPN.

Parents are responsible for repaying Parent PLUS loans once the loan is fully disbursed but have the option to defer payments as long as their child remains enrolled in at least a half-time status. Interest on the loan will continue to accrue while the student is in school and during any period of forbearance or deferment. Parents have a number of repayment options available to them based on their individual borrower needs. 28% for loans disbursed between .

Parent Eligibility Requirements for a Direct PLUS Loan

A parent must be the student’s biological or adoptive parent or the student’s stepparent if the biological or adoptive parent has remarried at the time of application. The child must be a dependent student who is enrolled at least half-time at a school that participates in the Direct Loan Program.

For financial aid purposes, a student is considered „dependent“ if he or she is under 24, unmarried, and has no legal dependents at the time the Free Application for Federal Student Aid (FAFSA) is submitted.Continue reading→