Direct Parent Plus Loan
Parent PLUS loans are government-insured loans made by the U.S. Department of Education for parents of undergraduate dependent students. The Parent PLUS loan is non need-based, is for parents to borrow on behalf of their student, and is based partly on the parents' credit worthiness. Parents may borrow up to the cost of education less other financial aid for their child. Interest is paid by the parent and there is no grace period. Read the Parent PLUS Loan FAQS for more detailed information. View interest rates and fees at studentaid.ed.gov
Repayment starts within 60-days of the final disbursement of the funds for the given academic year. Parents who wish to defer repayment until after their student graduates should go to StudentLoans.gov.
Parent PLUS Loan Authorization Instructions
If you have been awarded a Parent PLUS Loan, please follow these steps to accept the award:
- Log on to theROCK (only students can log in to theROCK with their username and password).
- Select "Finances" tab.
- Select the "Financial Aid Awards" link, then select the Aid Year and Submit.
- Select "Accept Award Offer" tab to accept, change, or decline the loan.
- Finally, the parent borrowing the Parent PLUS loan should go to studentloans.gov and log in with their FSA ID.
- Once logged in the parent should choose “Apply for a Direct PLUS loan”, then select "PLUS Application for Parents" and complete the request.
- The PLUS application will be submitted electronically to our Financial Aid Office.
- If this is the first PLUS Loan for this student, the parent will also be required to sign a Master Promissory Note (MPN) at studentloans.gov.
- Once logged in to studentloans.gov, the parent should select "Complete Loan Agreement (Master Promissorry Note)" and then "PLUS MPN for Parent".
- Parents who believe they will not qualify for the Parent PLUS loan should contact the Financial Aid office for alternative options.
The Direct Loan Program will send you a loan disclosure statement once your loan has been processed. It will show the total amount of your loan, the disbursement amounts and the estimated disbursement dates.
NOTE: Lender for Federal Direct and PLUS loans
The lender for the Federal Direct loans and PLUS loans is the U.S. Department of Education—not a bank or financial institution.