Parent PLUS Loan
Parents:
The Federal Direct Parent PLUS Loan enables you to borrow money at a fixed interest
rate and favorable repayment terms that will help your dependent, undergraduate student
pay for his/her educational expenses. Approved credit is required.
Learn more about the Parent PLUS Loan:
- Eligibility requirements
- How to apply (loan award and request)
- Disbursement / receiving funds
- Repaying the Parent PLUS Loan
- If you are denied
- Deadlines
Loan Components | Parent PLUS Loan |
Enrollment Requirement | Student must enroll at least half time |
Loan Fee |
4.228% of the amount borrowed on a loan first disbursed on or after October 1, 2021, and before October 1, 2024. |
Interest Rate |
Interest rates are subject to change every July 1 9.083% fixed rate on loans funded on or after July 1, 2024 - June 30, 2025 |
Capitalized Interest | Interest is charged from the date the funds are disbursed and capitalizes if not paid. |
Borrowing Limits | Parent can borrow up to the student's cost of attendance excluding other financial
aid, resources and the student's annual subsidized and/or unsubsidized loan eligibility. |
Borrowing Conditions | Parent can borrow to pay for student's educational expenses If the student is a dependent undergraduate enrolled at least half time. |
Credit History | Acceptable credit required |
Repayment | Usually begins within 60 days after the loan is fully disbursed (typically the spring
term). Parent may request deferment of repayment while the student is enrolled at least half time. Interest accumulates and capitalizes while in deferment. |
Getting a Parent PLUS Loan
You and your student must first complete the FAFSA.
A Parent PLUS Loan needs to be requested via studentaid.gov. It will no longer appear in your student's financial aid eligibility page.
my.SDSU
Make sure your student checks my.SDSU for important messages!
Get more info
For detailed information on Direct PLUS loans, visit the Direct Loan section of the Federal Student Aid website.