Federal Direct PLUS (Parent) Loan


After a parent has been awarded a PLUS Loan, the following documents are required to receive the PLUS (Parent) Loan funds:

  • Request for PLUS (Parent) Loan form - The OSFA also requires the parent borrower to request the Federal Direct PLUS Loan each year by completing a Request for PLUS (Parent) Loan form. This form lets the OSFA know that the parent does indeed wish to borrow the loan for that year and the dollar amount they wish to borrow. Until this annual request form is processed, the OSFA will not proceed with the parent loan even if there is a valid MPN on file.
  • Federal Direct PLUS (Parent) Master Promissory Note - Parents who are first-time borrowers of the Federal Direct PLUS Loan must complete an electronic Master Promissory Note (MPN) to receive the funds. In most cases, the parent will be required to complete the MPN only once during their student(s)' years in college. If the parent borrower is ineligible because of an adverse credit history, the parent may obtain an endorser for the loan. If an endorser is required, the Office of Student Financial Aid (OSFA) must have a new MPN completed for each loan.
  • Students can check their loan document status on ISIS. (When in ISIS, click on the heading Student Records, then under the Financial Aid heading, click on Loan Document Status.) If ISIS indicates that the Parent PLUS Request Form has not yet been completed, ISIS will automatically indicate that a Parent PLUS Master Promissory Note (MPN) has not been completed. If your parent has previously completed a PLUS MPN, when the Office of Student Financial Aid processes the Parent PLUS Request form, the PLUS MPN status will automatically change to indicate it has been completed. Check ISIS approximately one week after submitting the Parent PLUS Request Form to verify that the MPN has been completed.

Federal Government

Interest Rate

Fixed at 7.21% for loans disbursed July 1, 2014 - June 30, 2015

Fixed at 6.41% for loans disbursed July 1, 2013 - June 30, 2014

Fixed at 7.9% for loans disbursed July 1, 2006 - June 30, 2013

Interest Rate Cap

10.50% for loans disbursed on or after July 1, 2013

Interest Free in School


Credit Check


4.292% for loans disbursed October 1, 2014 - September 30, 2015

4.288% for loans disbursed December 1, 2013 - September 30, 2014

4.204% for loans disbursed July 1, 2013 - November 30, 2013

4.0% for loans disbursed on or prior to June 30, 2013

Annual Maximum

Student cost of attendance minus other financial aid awarded

Cumulative Maximum


Grace Period

None (Repayment begins 60 days after the PLUS Loan is fully disbursed. For loans disbursed after July 1, 2008, parents can request that payment be deferred--see Loan Deferment information below.)

Loan Deferment

May be requested for loans disbursed after July 1, 2008 by calling the borrower's PLUS Loan Servicer. Request must be made after the loan funds have disbursed. The borrower will be notified of their loan servicer at the time of disbursement; the Office of Student Financial Aid will not be notified of this information. If the borrower is unsure of their servicer, the borrower can log onto www.nslds.ed.gov using their Federal PIN to view this information.

Standard Repayment Period

Up to 10 years (additional repayment options beyond 10 years are available)

Minimum Payment

$50 per month

Additional information is available on the Federal Student Aid web site.