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Parent Loan for Undergraduate Students

Tuesday, November 05, 2024

UA-PTC Student

The Parent Loan for Undergraduate Students (PLUS) is a federal loan that a parent borrows to help their child (dependents only) pay for educational expenses. The parent borrower must have acceptable credit. Students whose parent has been denied a PLUS may be eligible to receive additional unsubsidized Stafford loan funds.

Federal PLUS Loan disbursements are sent directly to the financial aid office in at least two equal payments. The first payment is due no later than 60 days after the date the loan is fully disbursed. Under certain conditions, borrowers may request a deferment of principal and interest. Interest accrues during deferment periods. Contact the lender to learn more about repayment options.

Rates and Fees

The Federal PLUS Loan Program interest rate is set by the U.S. Department of Education. Interest rates vary and change annually. The Federal PLUS Loan Program Guarantee and Origination fees are the same as the Federal Direct Loan Program.

>> View Current Interest Rates

How to Apply for a PLUS Loan

Step 1: To begin the PLUS application process, both the student and parent must use the same FSA ID used to sign the students FAFSA. The FSA ID is a username and password combination used to log into the U.S. Department of Education online systems.

Step 2: Complete the Parent PLUS loan application.

  • Once there, select the Learn More button under the option I am a Parent of a Student.

Step 3: Complete the Master Promissory Note.

  • Once there, select the Log In To Start button under the option I’m a Parent of an Undergraduate Student.

Step 4: Complete the Federal PLUS Loan/Parent Request for Loan Certification

  • Print the completed document.
  • Submit the document to UA-PTC Office of Financial Aid for your loan to be certified.

For questions, contact a representative from the Office of Financial Aid at (501) 812-2289 or e-mail [email protected].