Direct PLUS (Parent)

Direct PLUS loans are unsubsidized loans for the parents of dependent students. PLUS loans help pay for education expenses up to the Cost of Attendance minus all other financial assistance. Interest is charged during all periods.

There are no set limits for Direct PLUS Loans, but you may not borrow more than the cost of your child's education minus any other financial aid received, such as a Direct Subsidized or Unsubsidized Loan. The school will determine the maximum amount you may borrow, or you may request a specific amount.

The interest rate for Direct PLUS Loans is a fixed rate of 7.9%. Interest is charged on Direct PLUS Loans during all periods, beginning on the date of your loan's first disbursement.

Beginning July 1, 2011, a Free Application for Federal Student Aid (FAFSA) must be completed for the student before you apply for a Federal Direct PLUS loans. After you have applied and have been approved for a Federal Direct PLUS Loan, you must also complete the Master Promissory Note (MPN) to ensure that the funds will be credited to your student's account. The MPN is completed online using your Federal PIN, which is the same PIN used to sign the FAFSA electronically. If you do not have or cannot recall your PIN, request a new (or duplicate) PIN from the Federal Student Aid PIN web site. As the parent of the student, you will need to sign with your own parent PIN. You cannot use your son or daughter's PIN. Allow up to 10 business days to receive your PIN.

For additional information, please download the PDF titled Parents Federal Direct PLUS Loan.

Graduate Direct PLUS Loan

Graduate Direct PLUS loans are unsubsidized loans for graduate/professional students. PLUS loans help pay for education expenses up to the Cost of Attendance minus all other financial assistance. Interest is charged during all periods.

There are no set limits for Direct PLUS Loans, but you may not borrow more than the cost of your education minus any other financial aid received, such as a Direct Subsidized or Unsubsidized Loan. The school will determine the maximum amount you may borrow, or you may request a specific amount.

The interest rate for Direct PLUS Loans is a fixed rate of 7.9%. Interest is charged on Direct PLUS Loans during all periods, beginning on the date of your loan's first disbursement.

After you have applied and been approved for a Federal Direct PLUS Loan, you must complete the Master Promissory Note (MPN) to ensure that the funds will be credited to your account. If you are applying for a Direct PLUS for the first time as a graduate/professional student, you will need to complete and sign a PLUS MPN, which is separate from the one that you use for your Direct Subsidized or Unsubsidized loans.

For additional information, please download the PDF titled Graduate Student Federal Direct PLUS Loan.

Resources for Students/Borrowers

• Frequently Asked Questions
• Direct.ed.gov — The U.S. Department of Education's Direct Loan homepage
• StudentLoans.gov — The U.S. Department of Education's portal for Direct Loan borrowers
• Locate/Repay your Federal Student Loan — Student Access to the National Student Loan Data System (NSLDS)
• The Department of Education's Direct Loan Applicant Services hotline: 800-557-7394