Parent PLUS Loans

Eligibility requirements 

• The borrower must be a parent (e.g., biological, adoptive, or in some cases, step-parent) of a dependent undergraduate student enrolled at least half-time (6 credits).
• The dependent undergraduate student must file a Free Application for Federal Student Aid (FAFSA).
• The student must be making satisfactory academic progress.
• Credit check required.
• Eligibility is not guaranteed.

New loan limit

New Parent PLUS loan limits will begin July 1, 2026.

• Annual limit: $20,000 per student
• Lifetime limit: $65,000 per student

Legacy provision

Parents may continue borrowing under current rules (up to full cost of attendance) for up to 3 more years if:

• The student is in the same program as before July 1, 2026

AND

• The parent previously borrowed a Parent PLUS loan for that student.

Application process 

1. Go to studentaid.gov to complete the Parent PLUS Loan application.
   • On the homepage, select "Apply for a Parent PLUS Loan" under Popular Topics in the Parent tab. The direct link to the PLUS loan application is also linked here.
2. Apply for Parent PLUS Loan.
   • The PLUS application is required annually. Please select the school year you are applying for on the application
   • Choose a specific loan amount or the maximum amount, which allows awarding up to student's cost of attendance not covered by other aid
   • If a parent borrower is not approved, the student may be awarded additional Unsubsidized Direct Loan of $4,000 for freshman or sophomores, or $5,000 for juniors or seniors.
3. Complete a Master Promissory Note (MPN) for a Parent PLUS Loan at studentaid.gov.
   • MPN is borrower and dependent student specific; a parent PLUS MPN is required for each dependent student.
   • A second MPN will be required if the previous MPN required an endorser or has otherwise become inactive.  
4. Complete PLUS Credit Counseling at studentaid.gov.

Repayment 

• Interest accrual begins when funds are disbursed.
• Repayment begins 60 days after the last scheduled disbursement.
• The parent borrower may defer repayment while the student on whose behalf the loan has been borrowed is enrolled at least half-time, and for an additional six months after the student ceases to be enrolled at least half-time. Request this process when applying.     

Questions? 

• Review current interest rates and loan limits.
• Compare PLUS and alternative loans.
• Find more information about Direct Loans for parents and loan repayment information.