Financial Aid Services

PLUS Loan (Parent Loan for Undergraduate Students)

The federal Parent Loan for Undergraduate Students (PLUS) allows parents of the student's household or any biological parents who are credit-worthy to borrow up to the cost of education minus any other financial aid for their child. Funds are subject to a 4% origination fee.  Repayment begins within 60 days of final disbursement, but borrowers may request an in-school forbearance for up to 60 months (5 years) while the student is enrolled.  The interest rate for this loan is fixed at 8.5%. 

To apply, the parent may complete the online Federal PLUS Loan Application, or contact the Sallie Mae Parent Answer Service at 800-891-1410 to begin the application process.  First-time borrowers should follow the on-screen links.  If you are a previous borrower, please contact our office for PLUS loan renewal options.  If you have a prior PLUS loan not serviced by Sallie Mae and wish to remain with that same lender, contact your prior lender for a PLUS loan application.  

When a PLUS loan is denied due to adverse credit, the student is automatically eligible for the Supplemental Stafford Loan.