Federal PLUS Loans enable parents with good credit histories to borrow money to help pay for the educational expenses of undergraduate students enrolled on at least a half-time basis.  PLUS Loans are not based on financial need. There are no loan limits for the Federal PLUS Loan.  For loans disbursed on or after July 1, 2006, the interest rate is fixed at 8.5%.

Parent borrowers may be eligible to borrow an amount equal to the cost of attendance less any other financial aid the dependent student receives. Interest begins to accrue immediately after disbursement, and repayment begins within 60 days after the final loan disbursement. The parent borrower has up to 10 years to repay the loan.

PLUS Loan Pre-approval

A PLUS Loan Pre-approval credit check is required by some colleges and universities. You should contact the college or university for instructions on how to apply for a PLUS Loan.

Click here to apply on-line for convenient pre-approval for your Federal PLUS Loan. If you accept the terms of our privacy agreement, you will be taken to a secure site to complete the request form.

If your school directs you to your lender to complete a PLUS Loan Master Promissory Note, please click here which will take you to a secure site to complete your MPN. You may choose to electronically sign and submit your application or you may print out the completed copy to sign and submit. Please check with your school for their policy on submitting an MPN.

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