Parent Loans for Undergraduate Students (PLUS)
Direct PLUS Loans are unsubsidized loans for the parents of dependent students. PLUS loans pay for education expenses up to the cost of attendance minus all other financial assistance. Interest accrues during all periods. The lender is the U.S. Department of Education rather than a bank or other financial institution. The 2017–18 interest rate is 7 percent, and the loan is credit-based. For those parents who do not qualify for the loan, students are eligible for an additional amount of Unsubsidized Direct Loan. The amount a parent is eligible to borrow is located on the Award Acknowledgment Acceptance Form. If you choose to borrow through the PLUS Loan program, complete the steps listed in the PLUS Loan Packet that can be found on the Financial Aid Forms page for your loan year.