Direct Parent PLUS Loan

Direct Parent PLUS Loans are loans available to parents of undergraduate students. The U.S. Department of Education serves as lender.

Direct Parent PLUS Loans are unsubsidized and the borrower is responsible for interest from the disbursement date. Payments begin when the loan is fully disbursed but may be deferred while the student beneficiary is in school at least half time.

Important Notice Regarding Parent PLUS Loans – Beginning with the 2026-27 academic year, a new federal aggregate cap will be imposed on Parent PLUS Loans of $65,000 per student, with no more than $20,000 allowed to be borrowed in one year.

Interest Rates

• The interest rate for loans first disbursed after July 1, 2025 is fixed at 8.94%.
• The interest rate for loans first disbursed after July 1, 2026 is TBD.

Origination Fees

• The origination fee for loans first disbursed after October 1, 2023 is 4.228%.
• The origination fee for loans first disbursed after October 1, 2024 is TBD.

Interest rates and origination fees are subject to change. Use our Loan Fee Calculator to help determine your origination fees when figuring loan amounts. 

Application Procedures

To be considered for a Direct Parent PLUS Loan, students must:

• File a FAFSA;
• Complete remaining steps in the Apply for Loans process.

Selection Criteria

To qualify for a Direct Parent PLUS Loan, parents must:

• Meet all eligibility requirements to receive Title IV aid;
• Be the parent (biological, step, or adoptive) of an undergraduate student enrolled at least half time (6 credits); and
• Meet the credit requirements.

Award Amounts

• Up to the full cost of attendance, less other financial aid, including other loans