The Federal Parent Loan is a credit-based loan offered to parents of dependent students to assist with the student's educational costs. The parent who is applying for the PLUS loan must complete the direct loan application for parents, the credit review process, and sign a Master Promissory Note at www.studentloans.gov; click on Parent Borrowers and then click on Apply for a PLUS Loan.
The application and credit request is the initial step in applying for the Parent Loan. If the credit decision is approved, the parent may borrow funds on behalf of an undergraduate student up to the designated cost of attendance minus any other aid or resources awarded to the student.
If the Parent Loan is denied, the student may borrow an additional unsubsidized loan up to the federal limits. Federal limits are restricted to $4000 for freshmen or sophomores and $5000 for juniors and seniors. Click here For additional information on federal loan programs.