| 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 7.9%. |
| 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 |