Federal Direct Parent PLUS Loan Application
The Federal Direct Parent PLUS Loan is an educational loan for parents or step-parents of dependent undergraduate students. Students must be enrolled at least half-time (6 credit hours during fall/spring and 5 credit hours during summer) in order for a parent to receive this loan. Students do not have to demonstrate financial need to be offered a Federal Direct Parent PLUS Loan as part of their financial aid package. However, the parent or step-parent who applies for the Federal Direct Parent PLUS Loan must demonstrate good credit history in order to borrow the loan. The parent or step-parent must successfully complete the loan application process before the OSFA can authorize a Federal Direct Parent PLUS Loan for disbursement. The annual maximum loan amount is based on the student's cost of attendance less other financial aid received.
The parent-borrower may contact the loan servicer to request a deferment:
- while the parent or the student is enrolled at least half-time and
- for an additional six months after the student ceases to be enrolled at least half-time.
If the loan is deferred, interest will accrue on the loan during the deferment. The parent-borrower may choose to pay the accrued interest or allow the interest to capitalize when the deferment period ends. The loan servicer will notify the parent-borrower about when first payment is due.
To begin the process of applying for a Federal Direct Parent PLUS Loan, a parent or step-parent must complete, sign, and submit the application to the OSFA.