Terms:
Information:
- The Parent PLUS loan is an unsubsidized loan for parents of dependent students. You may borrow up to your child's Cost of Attendance minus any other financial aid received.The student must be enrolled at least half-time (6 credit hours) to be eligible for the loan.
- The Parent PLUS loan will be processed in two disbursements, typically, for the fall and spring semesters. The loan will begin accruing interest (7.9%) once the loan disburses and repayment will begin approximately 60 days after the full loan disburses.
- Parent PLUS loan borrowers cannot have an adverse credit history (a credit check will be done). In addition, parents must not be in default on any federal education loans or owe an overpayment on a federal education grant.
- Dependent students whose parents have applied for but were unable to get a PLUS Loan are eligible to receive additional Direct Unsubsidized Loan funds.
- Submit application for a Federal Direct Parent PLUS Loan located on the homepage of the student's TigerWeb account - Credit approval is determined by the U.S. Department of Education.
- A first-time Direct Parent PLUS loan borrower must complete a Master Promissory Note (MPN) with the U.S. Department of Education.