Federal Direct Parent PLUS Loans

Parent Loans for Undergraduate Students (Federal Direct Parent PLUS) are federal loans that parents with good credit histories may borrow to help pay the educational expenses of an undergraduate student enrolled in at least 6 credit hours per semester.

A parent may borrow up to the total of the Estimated Cost of Attendance less resources and all other financial aid received by the student. Interest is charged on the loan from the time the loan funds are disbursed until it is paid in full.

Are Parent PLUS Loans right for you?


Students must complete a FAFSA®. Parent borrowers will complete the PLUS Loan application online at StudentAid.gov. If the parent borrower does not have an active Master Promissory Note (MPN) on file, he/she must complete one online.

Parent Eligibility

Parent borrowers must not have an adverse credit history.  Parents must submit to a credit check by the United States Department of Education to be eligible for a Federal Direct Parent PLUS Loan. If you have an adverse credit history, you may still receive a Parent PLUS loan through one of these two options:

  1. Obtaining an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the grad PLUS loan if you do not repay it. Log in to apply.
  2. Documenting to the satisfaction of the U.S. Department of Education that there are extenuating circumstances relating to your adverse credit historyLog in to apply.

With either option 1 or option 2, you also must complete credit counseling for parent PLUS loan borrowers.  For further guidance please contact 1-800-433-3243 or visit the Federal Student Aid Information Center.

Students whose parents are denied a PLUS loan may be eligible for additional Unsubsidized Student Loan.

Federal Direct Parent PLUS Loan Processing / Receipt of Funds

Federal Student Aid will notify the parent borrower and the UIS Office of Financial Assistance of the result of the credit check. If credit is approved, loan funds will be disbursed. The funds will be first applied to tuition, fees, and other university charges. If the Federal Direct Parent PLUS disbursement generates a refund after University charges are paid, the refunded amount will go to the parent.

PLUS Loan Interest Rates and Fees

The interest rate on Parent PLUS Loans for loans first disbursed on or after July 1, 2024 and before July 21, 2025 is 9.08%. Origination fees are deducted from the gross amount of the loan, and the origination fee is currently 4.228%.

amount varies