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Federal Direct Loan Programs for Parents

Parent Direct PLUS Loan

Note: In order to be considered for a Parent Direct PLUS Loan, your parent must apply online.

Eligibility Requirements

  • U.S. citizen or permanent resident
  • Be the parent of a dependent undergraduate student
  • Satisfactory credit history (credit criteria are determined by the Department of Education)

Annual Loan Limits

Cost of attendance minus other financial aid the student is receiving. Loan amount, in combination with all other forms of financial aid, cannot exceed the total cost of attendance for the year.

Interest Rates

Interest rates for Federal Direct loans are calculated on a year-by-year basis using the 10-Year Treasury Note index rate in combination with an add-on amount determined by Congress. Each loan has a rate cap should the Treasury Note index increase in subsequent years.

View information about interest rates for federal direct loans at studentloans.gov.

Origination Fees 

Most federal student loans have fees that are a percentage of the loan amount. View more information about Origination Fees.