Federal Direct Parent PLUS Loan

Parents of dependent students may apply for a Direct Parent PLUS Loan (application is online at StudentAid.gov) to help pay their child's education expenses as long as certain eligibility requirements are met.  The U.S. Department of Education is your lender for a Direct Parent PLUS Loan.

To be eligible for a Direct Parent PLUS Loan:

1. The parent borrower must be the student's biological or adoptive parent.
2. The student must be a dependent student who is enrolled at least half-time. Generally, a student is considered dependent if he or she is under 24 years of age, has no dependents, and is not married, a veteran, a graduate or professional degree student, or a ward of the court.
3. The parent borrower must not have an adverse credit history (a credit check will be done). If the parent does not pass the credit check, the parent may still receive a loan if someone (such as a relative or friend who is able to pass the credit check) agrees to endorse the loan. The endorser promises to repay the loan if the parent fails to do so. The parent may also still receive a loan if he or she can demonstrate extenuating circumstances.
4. The student and parent must be U.S. citizens or eligible non-citizens, must not be in default on any federal education loans or owe an overpayment on a federal education grant, and must meet other general eligibility requirements for the federal student aid programs.

Federal Direct Grad PLUS Loan

Graduate and professional students may apply for a Grad PLUS Loan to help pay for education expenses up to the cost of attendance minus all other financial assistance. You must have a completed FAFSA on file for your eligibility to be determined.  You may apply for a Grad PLUS Loan at StudentAid.gov, please note that this loan is subject to a credit check of "adverse" credit history by the U.S. Department of Education.  Once the school receives an approval you will be awarded funding based on your eligibility, at this time you will go to the Self Service Banner to accept the award. You must be enrolled at least a half-time in an eligible program as well as complete Entrance Counseling and sign a Master Promissory Note (MPN) or your loan will not disburse.  The U.S Department of Education is your lender for a Direct Grad PLUS Loan.