Federal Direct PLUS Loans

The federal Direct PLUS program is a popular financing option for parents of undergraduate students. Certain graduate students may also be eligible to borrow Direct PLUS loans; please see our page for Graduate Students.

• Parent PLUS loan amounts are limited to $20,000 per academic year, with a lifetime limit of $65,000 per student. In addition, the total amount of all resources for education costs, including PLUS loans, cannot exceed the total student budget for the academic year.
  
  
• 9.07% fixed interest rate (2026-2027 academic year) – applies to loans with a first disbursement date between 7/1/2026 and 6/30/2027.
  
  
• 8.94% fixed interest rate (2025-2026 academic year) – applies to loans with a first disbursement date between 7/1/2025 and 6/30/2026.
  
  
• 4.228% origination fee will be deducted from each.
  
  
• A credit check is conducted when you begin the loan application process.
  
  
• Undergraduate students are required to complete the Free Application for Federal Student Aid (FAFSA) in order for their parents to use the Direct PLUS loan program.
  
  
• Undergraduates whose parents do not qualify for a Direct PLUS loan can borrow additional federal Direct loan funds.

Loan Repayment

• For parents of undergraduate students, repayment begins within 60 days after your loan is fully disbursed and lasts ten years under the standard repayment plan. Parent borrowers may contact their loan servicing agency to request deferment of monthly payments while the student is in school. The name and contact information for the loan servicing agency is available on the borrower's record with Federal Student Aid. Log in with your FSA ID, then click on View Your Loan Information to find your information.