How to get a parent PLUS loan?

To get a parent PLUS loan, you must be the biological or adoptive parent of a dependent undergraduate student enrolled at least half-time at an eligible school. You apply through the U.S. Department of Education’s online portal, and the school must certify your loan amount. This guide walks you through each step, from checking eligibility to signing the Master Promissory Note.

What is a Parent PLUS Loan?

A parent PLUS loan is a federal loan that parents can use to help pay for their child’s college costs. The U.S. Department of Education is the lender. These loans are different from other federal loans because they require a credit check and have a higher interest rate.

Unlike student loans, the parent is responsible for repayment. The loan can cover the remaining cost of attendance after other financial aid is applied. You can borrow up to the full cost of attendance minus any other aid your child receives.

Eligibility Requirements

To qualify for a parent PLUS loan, you must meet these basic requirements:

• Be the parent (biological, adoptive, or in some cases stepparent) of a dependent undergraduate student.
• Your child must be enrolled at least half-time at a school that participates in the federal student aid program.
• You must be a U.S. citizen or eligible non-citizen.
• You must not have an adverse credit history (such as a bankruptcy, foreclosure, or default on a federal student loan).
• Your child must meet general eligibility for federal student aid, such as having a valid Social Security number.

If you have an adverse credit history, you may still qualify by obtaining an endorser who does not have an adverse credit history. You can also appeal the credit decision or document extenuating circumstances.

Step-by-Step Application Process

Step 1: Complete the FAFSA

Your child must submit the Free Application for Federal Student Aid (FAFSA) each year. The FAFSA determines eligibility for federal student aid, including the parent PLUS loan. You do not need to complete a separate FAFSA for the PLUS loan, but your child’s FAFSA must be on file.

Step 2: Check Your Credit

Before applying, you can check your credit report to see if you have any issues. The Department of Education will run a credit check as part of the application. You do not need a specific credit score, but you must not have an adverse credit history.

Step 3: Apply Online

Go to the Federal Student Aid website and log in with your FSA ID. Choose the parent PLUS loan application. You will need your child’s school information and the loan amount you want to borrow. The school must certify the loan, so you cannot borrow more than the cost of attendance minus other aid.

Step 4: Sign the Master Promissory Note (MPN)

If approved, you will need to sign a Master Promissory Note (MPN). This is a legal document agreeing to repay the loan. You can sign it electronically using your FSA ID. The MPN is valid for up to 10 years for multiple loans for the same child.

Step 5: Receive Funds

Once the school certifies the loan, the funds are sent directly to the school. The school applies the money to tuition, fees, room and board, and other charges. If any money is left over, the school will pay it to you (or your child if you authorize it) for other expenses.

Important Deadlines and Timeline

There is no federal deadline for parent PLUS loans, but each school sets its own deadlines. You should apply as early as possible after the FAFSA is completed. The FAFSA for the 2026-2027 school year became available on October 1, 2025. Many schools have priority deadlines in early spring, so check with your child’s financial aid office.

Note that the loan cannot be disbursed before the start of the academic term. If you apply late, the loan may not be processed in time for the semester. Always contact the school’s financial aid office for their specific timeline.

Loan Amounts and Interest Rates

Item	Details
Maximum loan amount	Cost of attendance minus other financial aid
Interest rate (2026-2027)	Fixed rate set each year by Congress (e.g., 7.54% for 2025-2026)
Loan fee	A percentage of the loan amount (e.g., 4.228% for 2025-2026)
Repayment term	10 to 30 years depending on repayment plan

The interest rate is fixed for the life of the loan. The loan fee is deducted from the loan amount before disbursement. You can find the current rates on the Federal Student Aid website.

Repayment Options

Repayment for parent PLUS loans typically begins after the loan is fully disbursed. You have several repayment plan options, including standard, graduated, and extended plans. You can also apply for income-contingent repayment if you consolidate your parent PLUS loan into a Direct Consolidation Loan.

If you are struggling to pay, you can request a deferment or forbearance. Deferment allows you to temporarily postpone payments, and interest may or may not accrue depending on the type. Forbearance also pauses payments, but interest always accrues. You must contact your loan servicer to request these options.

Tips for a Successful Application

• Complete the FAFSA early to avoid delays.
• Check your credit report for errors before applying.
• Apply online using your FSA ID to speed up the process.
• Contact the school’s financial aid office to confirm deadlines and required documents.
• Consider borrowing only what you need, not the maximum amount.

Alternatives if You Are Denied

If you are denied a parent PLUS loan, your child may be eligible for additional unsubsidized Direct Loans. You can also add an endorser to the loan, or appeal the credit decision. Some private lenders offer parent loans, but they may have higher interest rates and fewer protections.

Before turning to private loans, consider other options like scholarships, grants, or a payment plan through the school. Always compare terms and conditions.

Summary

Getting a parent PLUS loan involves completing the FAFSA, checking your credit, applying online, and signing the MPN. The process is straightforward, but you must act early to meet school deadlines. Remember that you are responsible for repayment, so borrow only what you need and explore all repayment options. For the most accurate information, always consult the Federal Student Aid website or your child’s financial aid office.