The Parent PLUS Loan is a credit based loan and eligibility is determined by subtracting the financial aid that has been offered from the student's estimated cost of attendance.

The following forms are required to receive the PLUS (Parent) Loan funds:

  • Federal Direct PLUS (Parent) Loan Request - The Office of Student Financial Aid (OSFA) requires the parent borrower to request the Federal Direct PLUS Loan each semester/session (fall, winter, spring, summer) by completing a Direct PLUS Loan Request at You will be notified by Federal Student Aid immediately after completing the PLUS request if the credit check is approved or denied. Separate requests must be completed for fall and spring semesters. If you need to change the amount that you had initially requested, please email OSFA using the email address you listed on your PLUS request. 
  • Federal Direct PLUS (Parent) Master Promissory Note - Parents who are first-time borrowers of the Federal Direct PLUS Loan must complete an electronic Master Promissory Note (MPN) to receive the funds. In most cases, the parent will be required to complete the MPN only once during their students' years in college. If the parent borrower is ineligible because of an adverse credit history, the parent may obtain an endorser for the loan. If an endorser is required, the Office of Student Financial Aid (OSFA) must have a new MPN completed for each loan.
  • Students can check their Financial Aid To Do List on MyUI.  If MyUI indicates that the Direct PLUS Loan Request has not yet been completed, MyUI will automatically indicate that a Parent PLUS Master Promissory Note (MPN) has not been completed. If your parent has previously completed a PLUS MPN, when the Office of Student Financial Aid processes the Direct PLUS Loan Request, the PLUS MPN status will automatically change to indicate it has been completed. Check MyUI approximately one week after submitting the Direct PLUS Loan Request to verify that the MPN has been completed.


Lender:  Federal Government

Interest Rate:

  • Fixed at 9.083% for loans disbursed July 1, 2024 - June 30, 2025
  • Fixed at 8.05% for loans disbursed July 1, 2023 - June 30, 2024
  • Fixed at 7.54% for loans disbursed July 1, 2022 - June 30, 2023
  • Fixed at 6.28% for loans disbursed July 1, 2021 - June 30, 2022

Interest Free in School:  No

Credit Check:  Yes

Loan Fee

  • 4.228% for loans disbursed October 1, 2020 - September 30, 2024
  • 4.236% for loans disbursed October 1, 2019 - September 30, 2020

Annual Maximums:  Student cost of attendance minus other financial aid offered

Cumulative Maximums:  None

Grace Period:  None unless requested on application (repayment begins 60 days after the PLUS Loan is fully disbursed, unless deferment is requested, see loan deferment below). 

Loan Deferment: May be requested on the PLUS application either while the student is enrolled in school or for 6-month post-enrollment. If either option is selected on the PLUS application, your servicer will contact you before the loan enters repayment. If you (the borrower) are unsure who your servicer is, you can log onto using your FSA ID to view this information.

Standard Repayment:  Up to 10 years (additional repayment options beyond 10 years are available)

Minimum Payment:  $50 per month