Parent PLUS Loan Overview

The Parent PLUS Loan requires an annual application.

Parents of dependent students may apply for loans from a non-need-based program, the Federal Direct Parent PLUS Loan Program. The parent may borrow an amount up to the cost of attendance minus other financial aid. At disbursement, the funds will first be transferred into the student’s University account to pay for on-campus charges (e.g., tuition and fees, room and board, and other school charges). If any money remains, the parent of the student will receive the balance, unless the parent designates that the student should be the recipient.

Interest Rate

The interest rate for the Parent PLUS Loan is fixed and based on the academic year it is borrowed. Interest begins to accumulate on the date of the first loan disbursement.

  • 2017-2018 Academic Year (July 1, 2017 & June 30, 2018): 7.00%*

*Click here for prior year interest rates.

Loan Origination Fee:

  • 2017-2018 Academic Year: 4.276%


  • Repayment begins after the loan is fully disbursed, with the first payment due within 60 days after the final loan disbursement, OR
  • Parent borrowers may choose to defer repayment on a PLUS Loan until 6 months after the date the student graduates or is no longer enrolled at least half time (9 or more units). Accruing interest can either be paid monthly or quarterly, or capitalized quarterly.

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