Parent PLUS Loan

Please note:

The undergraduate student MUST have a current FAFSA on file with our office before we will certify a Parent PLUS Loan.


Undergraduate PLUS Loan Information

The parents of dependent undergraduate students may borrow funds through a PLUS loan. To receive a PLUS loan, they will be required to pass a credit check. If they do not pass the credit check, they still may be able to receive a loan if someone, such as a relative or friend who is able to pass, agrees to co-sign the loan, promising to repay it if the parents should fail to do so.


The yearly limit on a PLUS loan is equal to your cost of attendance minus any other financial aid for which you are eligible. For example, if your cost of attendance is $6,000 and you are eligible for $4,000 in other financial aid, your parents could borrow up to $2,000. The interest rate is fixed at 6.41%. There is an origination fee of 4.204%. Unlike the Stafford loan, repayment of the PLUS Loan begins sixty days after the final disbursement. In addition, interest begins accruing at the point of first disbursement. Under certain circumstances, your parents may receive a deferment on their loan, but first must provide documentation and continue to make payments until a deferment has been granted.


Apply for a PLUS Loan

Parents applying for the Direct Parent PLUS Loan should follow these instructions.


  1. Go to and under the “Manage My Direct Loan” section, sign in using the parent’s PIN (This is the same PIN used to sign the FAFSA electronically).
  2. Go to “Start PLUS Application Process” and complete the application information that is required for the PLUS credit approval. The Department of Education will perform your credit check and will provide you with the results. Once you receive the results, please contact the Office of Financial Aid at (804) 862-6260.┬áIf your PLUS loan is denied and you wish to appeal the credit decision or would like to add an endorser to your PLUS loan, please select either option from the list under “PLUS Loan Process” on the left side of the page. If credit appeal or an endorser is not an option, please have your child contact the Office of Financial Aid at (804) 862-6260 to discuss the possibility of an extended unsubsidized loan.
  3. Complete Master Promissory Note for the Parent PLUS Loan.