PLUS Loan Eligibility
PLUS Loans are available to students who are all of the following:
- Dependent students
- Part-time or more
- Undergraduate
You must be a US citizen, national, permanent resident, or have other special status.
PLUS Loan Highlights
Borrowers who use PLUS Loans may enjoy:
- Higher loan amounts after other loans are exhausted
- Flexible repayment options (including consolidation)
- No prepayment penalty
Details on PLUS Loans
If you’ll use a PLUS Loan, be aware of the following:
- Parents must pass a credit check
- You may pay a fee of up to 4%
- You must repay the loan
- Loans issued after July 2006 have a fixed 8.5% APR
- Interest will not be subsidized
- Repayment begins 60 days after the loan is made – no grace period
How to Get a PLUS Loan
PLUS Loans are for parents – you might hear them called Parent PLUS Loans. A parent (not the student) completes a PLUS Loan application to get the ball rolling. Ask your financial aid office for this application.
How Much Can I Borrow?
The maximum loan depends on your cost of attendance and any resources you get. You can’t borrow more than it costs for school, but you can include a variety of costs when calculating cost of attendance – including books, supplies, and more.
For Additional Information
Your Financial Aid office is really the best place to go with questions. You can also visit:
- The Department of Education’s loan page (where you can view the Student Guide)
- The Federal Student Aid Direct Loans site

