The Federal Direct Parent Loan for Undergraduate Student (PLUS) is a loan for the natural parent or adoptive parent to help cover his/her dependent, undergraduate student’s educational expenses. A stepparent may be eligible to borrow if income and assets were reported on the Free Application for Federal Student Aid (FAFSA).

Parents must pass a credit check to be eligible for a PLUS loan, i.e. not have an adverse credit history.

Adverse credit history defined:

• A current 90-day delinquency
• Debt discharged in bankruptcy during the past five years
• Evidence of a default, foreclosure, tax lien, repossession, wage garnishment, or write-off of a Title IV debt during the past five years

Repayment on a Parent PLUS loan begins 60 days after the final disbursement of the current loan. The repayment period varies depending upon your choice of repayment plans.

Parent PLUS Loan Information