Parent PLUS Federal Direct Loan

Type of aid:Federal loan taken out by the parent on behalf of the student. The parent is responsible for repaying the loan. Interest is charged at a fixed rate of 6.41%.
Award amounts:Parents may borrow up to the student's full Cost of Attendance minus all other aid
Application process:The student must have filed a year-appropriate FAFSA and all associated paperwork to complete the financial aid file. The borrowing parent must have completed a Direct Parent PLUS Loan Request and credit check and Parent PLUS Master Promissory Note.
Eligibility requirements:Must be the parent of a dependent student. The parent borrower must be determined credit-worthy by the lender, and the loan amount must fit within the estimated Cost of Attendance minus other aid.
Repayment:Repayment begins following the second disbursement
Renewal requirements:All application items, except for the Parent PLUS Master Promissory Note, must be completed annually.
EFC eligibility requirements:All
Enrollment requirements:Half-time or more enrollment is required by the student for the parent to obtain these funds on behalf of the student
Grade-level eligibility:All grade levels for all undergraduate degree programs
Costs this aid can cover:Any education related expense

Contact Info

Indiana Wesleyan University

Financial Aid Office
1900 W. 50th St.
Marion, IN 46953
800-621-8667, ext. 2516
Fax: 765-677-2030

FAFSA Code: 001822

Free Application for Federal Student Aid